Supreme Court · 2016 INSC 1003 · Decided 7 November 2016
Pramod Jain and Others v. Securities and Exchange Board of India
- Court
- Supreme Court of India
- Citation
- 2016 INSC 1003 · [2016] 9 S.C.R. 178
- Case number
- CIVIL APPEAL No. 9103/2014
- Decided
- 7 November 2016
- Bench
- ANIL R. DAVE, ADARSH KUMAR GOEL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
9 S.C.R. 178 PRAMOD JAIN AND OTHERS v. SECURITIES AND EXCHANGE BOARD OF INDIA (CivilAppealNo.9103 of2014) NOVEMBER 07, 2016 [ANIL R. DAVE AND ADARSH KUMAR GOEL, JJ.) Securities Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - s.27 - Hostile takeover off its coffers, depleted its valuable fixed assets and eroded its net worth substantially and thereby the very object of the offer got defeated - SEBI rejected the application for withdrawal - Securities Appellate Tribunal upheld the order of SEBI - On appeal, held: There was D undue delay on
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