Supreme Court · 2007 INSC 607 · Decided 16 May 2007
G.L. Sultania and ANR. v. The Securities and Exchange Board of India and ORS.
- Court
- Supreme Court of India
- Citation
- 2007 INSC 607 · [2007] 6 S.C.R. 1152
- Case number
- CIVIL APPEAL No. 1672/2006
- Decided
- 16 May 2007
- Bench
- B.P. SINGH, ALTAMAS KABIR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Securities and Exchange Board of India Act, 1992-Section 157- Securities and Exchange Board of India (Sz;bstantial Acquisition of Shares C and Takeovers) Regulations, 1997-Regulation 20(5)-Public offer made by acquirer to purchase shares of minority shareholders at a price under the offer price was not fixed in accordance with the parameters laid down in the Regulations-Board appointing an independent valuer and approving draft offer letter by adopting valuation done by the independent valuer-Appeals D by shareholders before Appellate Tribunal dismissed-Correctness of-Held,
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