Judgment Search Results Home > Cases Phrase: securities laws amendment act 2004 chapter iii amendments to the depositories act 1996 Court: sebi securities and exchange board of india or securities appellate tribunal sat Page 1 of about 14 results (0.243 seconds)

Parsoli Corporation Limited and Others Vs. Securities and Exchange Boa ...

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

..... the securities and exchange board of india (depositories and participant) regulations, 1996 requires that every listed company shall ensure that all matters relating to its transfer of securities, maintenance of records of holders of securities, handling of physical securities and establishing connectivity with the depositories are handled and maintained at a single point either in-house by the issuer company or by a share transfer agent registered with the securities and exchange board of india (for short the ..... making or causing to be made an enquiry, the board is satisfied that it is necessary- (i) in the interest of investors, or orderly development of securities market; or (ii) to prevent the affairs of any intermediary or other persons referred to in section 12 being conducted in a manner detrimental to the interests of investors or securities market; or (iii) to secure the proper management of any such intermediary or person, it may issue such directions, - (a) to any person or class of persons referred to in section 12, or associated with the securities market; or (b) to any company in ..... the penalties that were provided for the violations were inadequate and did not serve as a deterrent to the market players and it is for this reason that the act came to be amended in the year 2002 as noticed above and the ..... the show cause notice and find that the details of the misconduct committed by the appellants have been mentioned in paragraphs 3 to 23 thereof and the provisions of law .....

Nirmal Bang Securities Pvt. Ltd. Vs. the Chairman, Securities and

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

Reported in : (2004)49SCL421SAT

..... bye-law 357(iii) of the bse bye-laws provides that if a broker purchases or sells securities or assist or knowingly is a party to any purchase or sale of securities for the purpose of upsetting the equilibrium of the market or bringing about a condition of demoralisation in which the prices will not fairly reflect the market value, it will amount to prejudicial business. ..... films.global tele systems date buy 1048 enquiry officer has observed that nsb and beb have simultaneously created net sales in settlement 1049 constituting 17.9% and 9.2% of net at the exchange and to this extent both the entities have acted in concert to have depressed the share price of global tele.hfcl date date op en hi clo se beb nbs sett no from to buy sell net % net buy sell net % net 1046 05-02-01 09-02-01 1000 1039 965 421 ..... it is significant that each of these regulations which apply to the different intermediaries, contain provisions such as chapter vi of the stock broker regulations, providing for eventualities/situation in which the registration of the intermediary can be suspended or cancelled. ..... the said circular further goes on to advise the stock exchanges to amend their bye-laws suitably to take action against broker who mis-utilise or permit misutilisation of their trading terminal for unregistered sub-broking activities and to amend its bye-laws to prohibit members from dealing with sub-brokers, who are not registered with sebi. ..... air 1996 sc 1100. .....

First Global Stockbroking Pvt. Vs. Securities and Exchange Board of In ...

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

..... to securities market) regulations, 1995; (j) the securities and exchange board of india (foreign institutional investors) regulations, 1995; (k) the securities and exchange board of india (custodian of securities) regulations, 1996; (l) the securities and exchange board of india (depositories and participants) regulations, 1996; (m) the securities and exchange board of india (venture capital funds) regulations, 1996; (n) the securities and exchange board of india (mutual funds) regulations, 1996; (o) the securities and exchange board of india (substantial acquisition of shares and takeovers) regulations, 1997; (p) the securities and exchange board of india (buy-back of securities) regulations, 1998; (q) the securities and ..... it is further stated that pursuant to an amendment to the securities & exchange board of india act, 1992 section 15z was introduced with retrospective effect from 29th october 2002, by which the appeal from any decision or order of the securities appellate tribunal could be made directly to the supreme court and that too on any question of law only. .....

integrated Enterprises (India) Vs. Chairman, Securities and

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

..... the institutions mentioned in sub-clauses (i), (ii), (iii), (iv), jointly or severally; (vi) a custodian of securities who has been granted a certificate of registration by the board under sub-section (1a) of section 12 of the act; (vii) a clearing corporation or a clearing house of a stock exchange; (viii) a stock-broker who has been granted a certificate of registration by the board under sub-section (1) of section 12 of the act; provided that the stock-broker shall have a minimum net worth of rupees 50 lakh and the aggregate value of portfolio of securities of the beneficial owners held in de-materialised form in a depository ..... without prejudice to the generality of the provisions of sub-regulation (1) - (i) an enquiry proceeding initiated by the board under the relevant regulations and pending before the board before the commencement of these regulations shall be conducted and completed under the relevant regulations as if those are not amended as specified in ..... is common ground that during the pendency of the appeal the appellant has been granted certificate of registration in the category of registrar of share transfer agent on 11.10.2004 and as also depository participant on 15.10.2004, subject to the outcome of the appeal and is presently functioning ..... the impugned order, we find that the respondent has proceeded under the new regulations relying on regulation 23 o f the 2002 regulations, which saves proceedings commenced under the 1996 regulations(see page 14 of the .....

Sms Holdings Pvt. Ltd. Vs. Securities and Exchange Board of India

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

Reported in : (2004)49SCL117SAT

..... the complaints received by it with reference to the acquisition of shares/control of seamec by technip and also the application made by the said technip seeking exemption from compliance of the requirements under chapter iii of the securities and exchange board of india (substantial acquisition of shares and takeovers) regulations, 1997 (the takeover regulations) in the context of substantial acquisition of shares/control of coflexip, made as a result of the ..... act); (ii) pursuant to the same section of the companies act, that statement of intent is binding on the declaring company for the twelve months from its date, and the stated intent may only be altered in the event of a "significant" change in the circumstances surrounding the target company, in its position or in the shareholding of the interested parties; (iii) the declaring shareholder who fails to abide by the stated intent is liable to being deprived of the voting rights exceeding the declared threshold for a period of two years.5.3.18 as submitted by technip, it is also observed that under french ..... the beginning that the public announcement is made in compliance with takeover regulations and subsequent amendments thereto.the amended regulation 20(12) for minimum offer price clearly states that "the offer price for the indirect acquisition or control shall be determined with reference to the date of the public announcement for the parent company and the date of the public announcement for acquisition of shares of .....

Dsq Securities Ltd. Vs. Securities and Exchange Board of India

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

Reported in : (2006)67SCL51SAT

..... chapter iii of the futp regulations, 2003 provides for investigation and regulation 9 of the said regulations provides that the investigating authority shall on completion of investigation after taking into account all relevant facts shall submit a report to the appointing authority. ..... it has already been shown that a penalty is contemplated only by section 15ha which was introduced by the amendment act on 29.10.2002 whereas the alleged transactions took place between the year 2000 and 2001 which is much prior to the introduction of the penal provision. ..... as demonstrated supra, the directions issued by sebi in the impugned order were not provided for under the amended act and regulations. ..... however, in its application to the depository nsdl for dematerialization, the company had indicated that the shares were fully paid up and given the same isin in which the shares issued earlier were credited. ..... there is no provision in law to direct the appellant not to hold any office in any other institution associated with the securities market particularly since the show cause notice did not propose to impose any such restriction. ..... (m) items (iii), (iv) and (v) of the impugned order dated 9th september, 2004 stand modified accordingly. ..... shri dinesh dalmia however, submitted his reply to the show cause notice vide his letters dated 4.3.2004 and 19.3.2004. ..... moreover, the show cause notice dated 7.10.2003 and the impugned order dated 9.9.2004 are barred by resjudicata/doctrine of double jeopardy. .....

Karvy Stock Broking Ltd. Vs. Securities and Exchange Board of India

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

Reported in : (2007)73SCL261SAT

..... this appeal filed under section 15t of the securities and exchange board of india act, 1992 (hereinafter referred to as the act) is directed against the order dated may 26, 2006 passed by the whole time member of the of the securities and exchange board of india (hereinafter referred to as the board) directing amongst others, the appellant not to act as a depository participant pending inquiry and passing of final orders except for acting on the instructions of existing beneficial owners. ..... save as otherwise provided in section 11, if after making or causing to be made an inquiry, the board is satisfied that it is necessary,- (i) in the interest of investors, or orderly development of securities market; or (ii) to prevent the affairs of any intermediary or other persons referred to in section 12 being conducted in a manner detrimental to the interest of investors or securities market; or (iii) to secure the proper management of any such intermediary or person, it may issue such directions,- (a) to any person or class of persons referred to in section 12, or associated with the securities market; or (b) to any company in respect of matters specified in section 11a, as may be appropriate ..... however, in the year 1995 the parliament amended the act and introduced chapter via containing sections 15a to 15j by act 9 of 1995 with effect from 25/01/1995. .....

AshwIn K. Doshi, Pankaj G. Joshi, Vs. Securities and Exchange Board of ...

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

..... he also referred to the solidaire case (supra) cited by the appellants and submitted that the non obstante clause has application only when any of the provisions of the special court act is found conflicting with the provisions of any other law, that there is no such conflict as far as the provisions of the companies act and the provisions of the special courts act, that on the contrary the provisions of the companies act and special court act are ..... sub section (3) every person holding equity share capital of a company and whose name is entered as beneficial owner in the records of the depository shall be deemed to be a member of the concerned company.learned counsel for the appellants had relied on this tribunals decision in ..... sebi) is a statutory body established under the provisions of the securities and exchange board of india act, 1992 (the act), mandated to protect the interests of investors in securities and to promote the development of, and to regulate the securities market by such measures as it thinks ..... (iii) the target company submitted the names of its managing directors, whole-time directors who have formed a core group of its management team from the year 1970 to 1996 in support of their submissions that target company has, always been ..... under the companies (amendment) act, 2000, a new provision has been made for issue of shares with ..... anything before the tribunal to show that sebi had carried out any investigation, following the procedures provided in chapter v into the .....

Transgene Bio-tech Ltd. Vs. Securities and Exchange Board of India

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

Reported in : (2005)4CompLJ166SAT

..... the word 'ratification' as defined in the black law dictionary 7th edition clearly defines ratification as 'confirmation and acceptance of a previous act' thereby making the act valid from the moment it was done.further law of lexicon dictionary also defines the word ratification as 'the adoption of a contract made on behalf of someone, who he did not authorize, which relates back to the execution of the contract and renders it, obligatory from the ..... the interpretation given to the regulation 17.2a, which came into effect pm 02.06.2003, do not apply to the fact of the case of the appellants as admittedly the board meeting took place on 14.02.2002 prior to the amendment.therefore, there is no question of granting post facto leave on the basis of the said amended ..... the order dated 27th november, 2003 passed by the securities ..... chapter xiii of sebi (dip) guidelines deals with "guidelines for preferential issues" and the provisions thereof are mandatory in terms of regulation 13.0, which reads as under: regulation 13.0 - the preferential issue of equity shares ....by listed companies whose equity share capital is listed on any stock exchange to any select group of persons under section 81(1a) of companies act ..... the appellants submitted that government of india in the course of economic reforms in the year 1996 has liberalized its policy with regard to import of various good into ..... 2004 dated 16/12/2004 where inter alia it has been stated by the ..... the provisions of sebi (dip) guidelines and (iii .....

Guru Teak Investment (Mysore) Vs. Securities and Exchange Board of Ind ...

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

Reported in : (2005)64SCL403SAT

..... or offered by a co-operative society registered under the co-operative societies act, 1912 (2 of 1912) or a society being a society registered or deemed to be registered under any law relating to co-operative societies for the time being in force in any state; "(ii) under which deposits are accepted by non-banking financial companies as defined in clause (f) of section 45-i of the reserve bank of india act, 1934 (2 of 1934); "(iii) being a contract of insurance to which the insurance act, 1938 (4 of 1938), applies; "(iv) providing ..... not launch any new scheme or raise money from the investors under the existing scheme; (iii) company shall get the existing schemes audited by an auditor within one year from the grant of provisional registration; (iv) company shall get the existing schemes appraised by appraising agency within one year; (v) company shall create trust and appoint trustees as specified in chapter iv of regulations within one year; (vi) company shall ..... the appellant had been running an existing scheme from the year 1996 the appellant immediately on coming to know of the provisions of the act and the regulations therein made an application to the ..... under rule 21 of securities appellate tribunal (procedure) rules 2000, the appellant herein begs to submit ..... 2004 the appellant wrote to sebi which reads as follows: "kindly find enclosed with respect to the compliance under regulation 71(1) of the sebi (collective investment schemes) regulations, 1999 as per the ..... the amended .....