Supreme Court · 2014 INSC 1039 · Decided 10 December 2014
M/S. Discovery Wealth Management Services PVT. LTD. & ORS. v. MIS. Padmini Engineering PVT. LTD. & ORS.
- Court
- Supreme Court of India
- Citation
- 2014 INSC 1039 · [2014] 14 S.C.R. 265
- Case number
- CIVIL APPEAL No. 5027/2008
- Decided
- 10 December 2014
- Bench
- DIPAK MISRA, UDAY UMESH LALIT (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Securities Contracts (Regulation) Rules, 1956: r.19(2)(b)- Securities and Exchange Board of India (Listing C of Securities) Guidelines, 2003: clauses 8.1 to 8.5, 12.1 - Delisting of shares- BSE did not al/ow the delisting of shares of Hefla· Ltd. as level in Hella India did not go below 10% - Held: The offer of delisting would fail if the public shareholding does not fall below the minimum D . listing conditions or the listing agreement- In the instant case, as per the agreement between the company He//a India and BSE, the level of public
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