Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: sebi securities and exchange board of india or securities appellate tribunal sat Page 1 of about 47 results (0.226 seconds)

Sebi Vs. Rayban Sun Optics India Ltd.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... voting rights by an acquirer. in this regard it will be pertinent to advert to the judgement of hon'ble supreme court in reserve bank of india vs. peerless general finance and investment co. (1987) 1 scc 424 wherein it has , interalia , been observed that "interpretation must depend on the text and the context. they are the bases ..... any transactions directly relating to the u.s. void or voidable (the "required consents") shall have been obtained and all applicable waiting periods specified under the hsr act shall have been lapsed or been terminated." once the above contingency had been satisfied, the transaction was to proceed in three separate steps as set out in section ..... the powers conferred upon me under sub-section (3) of section 4 read with section 11b sebi act 1992 read with regulations 44 and 45 of the said regulations, i hereby direct the acquirer to make public announcement as required under chapter iii of the said regulations in terms of regulations 10 & 12 taking 28/4/99 as .....

In Re: India Emerging Companies

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... stock exchange.1.3 tata industries limited (hereinafter referred to as the 'acquirer') is part of the tata group and one of the promoters of tata finance limited (hereinafter referred to as 'erstwhile transferor'). the erstwhile transferor was amalgamated with tata motors limited (hereinafter referred to as 'tml') in accordance with the ..... acquisition of shares and takeover) regulations, 1997 (hereinafter referred to as 'the takeover regulations'), seeking exemption from the applicability of regulations 10 and 12 of chapter iii of takeover regulations with respect to the proposed indirect acquisition.2.1 in the application dated 16.3.2005, the acquirer had made the following submissions ..... 1 in view of the above findings, i, in exercise of the powers conferred upon me under section 19 of the securities and exchange board of india act, 1992, read with regulation 4(6) of sebi (substantial acquisition of shares and takeovers) regulations, 1997, hereby grant exemption to the acquirer, from .....

M/S Marwadi Shares and Finance Limited Vs. Securities and Exchange Boa ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... :- january 2006 circular 2. back ground: 2.1 . 2.2 as per the provisions of the act, every banking company, financial institution (which includes chit fund company, a cooperative bank, a housing finance institution and a non-banking financial company) and intermediary (which includes a stock broker, sub-broker, share transfer ..... somasekhar discussed in detail the provisions of pmla and argued that the act was enacted with a view to preventing money laundering and to provide for confiscation of property derived therefrom or involved in money laundering. chapter iii of the act specifies the manner in which any violation in relation to the pmla ..... ought to be dealt with. chapter viii thereof makes provisions for appointment of authorities under the act and the order passed by these authorities are appealable under .....

Shailesh S. Jhaveri Vs. Securities and Exchange Board of India, Mumbai

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... 2, 2008. the disgorgement proceedings cannot be treated as separate and independent proceedings as is the case with the adjudication proceedings under chapter via or prosecution under section 23 of the act. disgorgement is in fact a continuation of the earlier proceedings under which a person has been held guilty of violating the regulatory ..... for the purpose of subscribing to the shares of the company. the appellants had subscribed to the shares through cheques by withdrawing the credit balance and finance from m/s. rajesh jhaveri and the cheques were debited from the bank account of the appellants and got credited to the bank account of the ..... legal bar in initiating action for violating different provisions of the act. the act itself permits adjudication proceedings under chapter via of the act, issue of directions under sections 11 and 11b of the act and prosecution under section 23 of the act for violating provisions of the act or the rules made thereunder. in any case, disgorgement is .....

Sundaram Finance Ltd. Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2003)42SCL521SAT

..... 422 (mum. - sat.) to support her contention that means rea is not required to be established for imposing monetary penalty under the penal provisions in chapter vi-a of the act.14. with reference to the appellants' challenge that the respondent's order to adjudicate the matter under section 15a(b) and that the alleged failure is ..... learned counsel submitted that the order of the adjudicating officer imposing monetary penalty on the appellants is contrary to the decision of this tribunal in the housing development finance corporation (hdfc) case cited. he further submitted that even clause (a) of section 15a was not attracted to the appellants' case as there was no ..... not attracted in respect of documents or reports which were required to be filed with the respondent. in this context he cited this tribunal's decision in housing development finance corporation ltd. v.sebi [2000] 28 scl 289 (mumbai - sat.) and submitted that the facts of the said case are almost identical to the appellants' .....

Sundaram Finance Ltd., Wheels Vs. Securities and Exchange Board of Ind ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2003)3CompLJ145SAT

..... sebi (1999) 22 scl 422 to support her contention that meansrea is not required to be established for imposing monetary penalty under the penal provision in chapter vi a of the act.13. with reference to the appellants' challenge that the respondent's order to adjudicate the matter under section 15 a (b) and that the alleged ..... learned counsel submitted that the order of the adjudicating officer imposing monetary penalty on the appellants is contrary to the decision of this tribunal in the housing development finance corporation (hdfc) case cited. he further submitted that even clause (a) of section 15a was not attracted to the appellants' case as there was no failure ..... attracted in respect of documents or reports which were required to be filed with the respondent. in this context he cited this tribunal's decision in housing development finance corporation ltd., v. securities and exchange board of india (2000) 28 scl 289 and submitted that the facts of the said case is almost identical to the .....

Pan Asia Advisors International Corporate Finance Minster House and An ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... barring these couple of exceptions, there does not seem to be any other provision either made by the parliament, ministry of finance, rbi or even by sebi under which sebi might have acted and looked into any alleged fraudulent or wrong methodology/modus operandi adopted by any party in the matter of creation and issuance ..... orders of an adjudicating authority to an appellate tribunal , and then to the honble high court. chapter 6 lays down provisions for establishment of a separate directorate of enforcement which has been empowered to undertake investigation and search operations etc. 36. section 47 of ..... of the fema deals with penalties in respect of any violation of the provisions of the said act and any, rules, regulations, notifications or directions issued thereunder by the rbi. in fact, chapter 5 also provides for the adjudication process to be undertaken by an adjudicating authority . it makes provisions for appeals from the .....

Sebi Vs. Shri Murli Lekhraj, Sanwa Finance

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... 2003, inter alia challenged the contents of the show cause notice and also refuted acting through sspl, sfpl, sdl and in the said process violating regulation 3 and 4(a), (b) and (c) of chapter ii of sebi (prohibition of fraudulent and unfair trade practices relating to the securities ..... exports (p) ltd. 95400 66780002 sava garments mfg. (p) ltd. 62500 43750003 palmar invt. & trading 95300 6671000 co. (p) ltd.4 sanwa finance ltd. 531820 372274005 sanwa developments (p) ltd. 419696 293787206 h b vaswani 1100 77000------------------------------------------------------------------------- total 1205816 84407120------------------------------------------------------------------------- 28. in view of the above findings, ..... an nri and only enjoyed an honorary position as a director in the sanwa group of companies comprising of sava securities p. ltd. ("sspl"), sanwa finance p. ltd. ("sfpl") sanwa developments p. ltd. ("sdpl"), sino securities pvt. ltd. ("sino") and jayem exports p. ltd. ("jepl"), .....

Fascinating Leasing and Finance Vs. Securities and Exchange Board of I ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... little assistance.before we proceed further, let us have a look at the following statutory provisions relied on by the parties.18. regulation 3 nothing contained in chapter iii of these regulations shall apply to acquisition of shares: a) by allotment in pursuance of an application made under a public issue; c) in the ..... appellants acquired the shares in a public issue and as such there was no violation of regulation 10, as the said acquisition is outside the ambit of chapter iii of the takeover regulations, in terms of regulation 3(a). other grounds which he adduced to substantiate his contention were that the transaction is beyond ..... of contravening the statutory provisions relating to substantial acquisition of shares.2. the appellant company viz. m/s. fascinating leasing & finance pvt.ltd. is a private limited company registered under the companies act, 1956 with the main object of carrying on non-banking financial business. the appellants acquired about 67% in the equity share capital .....

Bpl Limited Vs. Securities and Exchange Board of

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... the board. the impugned order has been made by the respondent chairman exercising the concurrent power of the board vested in him.112. chapter iv of the act deals with the functions of the board. this chapter comprises 4 sections - i.e. section 11, on functions of the board, section 11a on matters to be disclosed by the companies ..... acquisition. the offer therefore was turned down. i understand that the said broker had also sent five crore worth of shares of money television ltd to sanyo finance. sanyo finance is a partnership firm belonging to the bpl group set up to manage media business". to another question as to "who made the offer for sale of ..... an officer from service on doubtful integrity held that "mere possibility is hardly sufficient to assume that it would have happened". in nandakishore prasad v. state of bihar (1978) 3 scc 366, the court while considering the appeal against the removal of an employee from service based on the findings of a departmental enquiry viewed that " .....