Supreme Court · 2014 INSC 993 · Decided 20 August 2014

1.P. Holding Asia Singapore P. LTD. & ANR. v. Securities & Exchange Board of India

Court
Supreme Court of India
Citation
2014 INSC 993 · [2014] 8 S.C.R. 399
Case number
CIVIL APPEAL No. 7390/2012
Decided
20 August 2014
Bench
MADAN B. LOKUR, KURIAN JOSEPH (2-judge bench)
Outcome
Appeal(s) allowed
Case type
Civil

Headnote

SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - Regulations 10, 20(8), 8- Non-compete A B fee - Liability of the acquirer company to pay, to the public C shareholders of the target company - Held: Acquirer company not liable to pay non-compete fee to of the target company as it was being paid to the outgoing promoters of the target company which is being taken over by the acquirers - Ordinarily when there is a gap D of 25% between the consideration paid to the outgoing promoters and the non-compete fee, SEBI ought not to conduct any

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