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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