Supreme Court · 2013 INSC 463 · Decided 15 July 2013
Bhagwati Developers PVT. LTD. v. Peerless General Finance & Investment Company LTD and ANR.
- Court
- Supreme Court of India
- Citation
- 2013 INSC 463 · [2013] 7 S.C.R. 547
- Case number
- CIVIL APPEAL No. 7445/2004
- Decided
- 15 July 2013
- Bench
- C.K. PRASAD, V. GOPALA GOWDA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
A B SECURITIES CONTRACTS (REGISTRATION) ACT, C 1956: s. 13 - Contract in notified areas illegal in certain circumstances - Transfer of shares of Peerless General Finance and Investment Company (Peerless) - Held: In the D instant case, the place where the shares in question has been entered is a notified area for the purpose of s. 13 -- Further, the contract is not between the members of a recognized stock exchange and, therefore, as held by the Company Law Board, is in violation of s. 13. E s. 2(h)(i) - 'Securities' - 'Shares of Pearless General
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