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M. Sreenivasulu Reddy and ors. Vs. Kishore R. Chhabria and ors.

Court : Mumbai

Subject : Company

Acts : Companies Act, 1956 - Sections 6, 87, 111 and 111A; Securities and Exchange Board of India Act, 1992 - Sections 11, 11B, 15I, 15Y and 20A; Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1994 - Regulations 2, 6, 9, 10, 11, 12, 13, 14, 15, 33, 37, 39; Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - Regulations 10, 11 and 12

Reported in : [2002]109CompCas18(Bom)

the 1997 Regulations by bringing in indirect acquisition. He referred to the judgments of the Supreme Court in Howrah Trading Co. Ltd, v. CIT : [1959]36ITR215(SC) and Balkrishan Gupta v. Swadeshi Polytex Ltd. : [1985]2SCR854 ; to … para. 2 of the order :'These items include proposed resolutions under Sections 257 and 284 of the Companies Act, 1956.'20. Counter Suit No. 297 of 1997 and Notice of Motion No. 184 of 1999 therein: Defendants Nos. 3, … to as 'the SEBI Regulations of 1994'). These regulations are framed under Section 30 of the Securities and Exchange Board of India Act, 1992 (hereinafter