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Companies Law - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Petition for Permission to Undertake Business as a Stock ...


Court Reviews Stock Exchange Petition Over Non-Disclosure of Buyback Agreements to SEBI; Promoters Promise Compliance.

September 28, 2013

Case Laws     Companies Law     HC

Petition for Permission to Undertake Business as a Stock Exchange - The effect of the non-disclosure of the buyback agreements to SEBI should be considered having regard to the fact that a genuine attempt has been made by the promoters by tendering an undertaking to the Court that their shareholding together shall not exceed five per cent of the equity capital, notwithstanding the exercise of the options - HC

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