Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
..... securities market in india (after conversion of gdrs created/sold/traded outside india) are fraudulent transactions and that fraudulent intention existed right from the date of issuance of shares through gdr mechanism, then, sebi would be justified in invoking jurisdiction under sebi act, 1992 and debar persons connected with such transactions from rendering services in connection with instruments that are defined as securities (as in section 2(h) of scra, 1956) in the indian market for ..... therefore, totally in the context of an indian company making certain misleading corporate announcements which were considered harmful to the indian market. ..... also deals with other connected issues such as that of nri direct investment; transfer of shares from resident to non-resident; issue of rights/bonus shares to the non-resident shareholders; issue of shares under esops to non-resident; investment in shares by qualified foreign investors and indian depository receipts (idr) etc. ..... certain applications were made to the chief minister of maharashtra, who also held the post of minister for urban development, regarding allotment of ..... the honble high court of bombay set aside the allotments without calling for any explanation from the chief minister or making him a party to the ..... the honble bombay high court held that sebi did in fact have the right to inquire into the matter connected with the fabrication of books of accounts and balance sheets of satyam since sebis powers stand independent of .....
Tag this Judgment!Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
..... market and any other suitable direction in the interest of investors and securities market under section 11 read with 11b of the sebi act and regulation 11 of the sebi (prohibition of fraudulent and unfair trade practices relating to securities market) regulations should not be issued" and ..... respondent chairman, in the inquiry proceedings before him explaining the circumstances of funding the bail out that "when the officials of bombay stock exchange and national stock exchange made a bonafide effort to try and prevent a collapse or crash of the market ..... is an associate of the appellant company , it has been stated that jhpl is a completely independent corporate entity, with its entire share capital held by the appellant and his family; that jhpl ..... 13. suspension or cancellation of registration:- the board may, in the circumstances specified in regulation 11, and without prejudice to its power under regulation 12, initiate action for suspension or cancellation of registration of an intermediary holding g a certificate of registrations under section 12 of the act; provided that no such certificate of registration shall be suspended or cancelled ..... action against the concerned broker and in any case non reporting of the transactions by broker to the exchange will not change the ..... of maharashtra (air 1975 sc 1549) , while considering the question as to whether the assessee under the central sales tax act, 1956 could be made liable for penalty under the provisions of the state sales tax ..... air .....
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