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2022 (9) TMI 1426 - HC - SEBIInterim Application seeking orders to open the sealed envelope and disclose the voting results of the meeting of the Debenture Holders convened - Holding of the meeting was pursuant to the orders of this Court - HELD THAT:- There is merit in the submission of the Mr. Sharan Jagtiani, particularly considering the order dated 10th August, 2022 of the Supreme Court. The meeting of the debenture holders was convened by Respondent No.2 on 13th May, 2022. Pursuant to orders of this Court dated 31st March, 2022 and 6th April, 2022 in Interim Application (L) No [2022 (5) TMI 1510 - BOMBAY HIGH COURT] 25571 of 2021 filed by the Plaintiff. The voting results of the said meeting had been placed in the sealed envelope pursuant to order dated 10th May, 2022. The contention of the Mr. Mustafa Doctor that the voting has not taken placed in accordance with said SEBI’s circular can be considered on the opening of the sealed envelope containing the voting results. The order of the Supreme Court dated 30th August, 2022 holds that the SEBI’s circular has retroactive application and voting would have to be as per the ISIN wise voting. The sealed envelope containing the voting results of the meeting held on 13th May, 2022 shall be opened and made available to the Advocates for the parties in order to assist the Court as to whether the requisite majority as required in accordance with the circular of SEBI dated 13th October, 2020 has been achieved during the course of the meeting. The voting results shall not be publicised prior to such determination. This shall be without prejudice to the rights and contentions of the parties in the present proceedings.
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