Supreme Court · 2015 INSC 483 · Decided 6 July 2015
Securities and Exchange Board of India v. Panasia Advisors LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 483 · [2015] 11 S.C.R. 90
- Case number
- CIVIL APPEAL No. 10560/2013
- Decided
- 6 July 2015
- Bench
- F.M. IBRAHIM KALIFULLA, SHIVA KIRTI SINGH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
c Securities and Exchange Board of India Act, 1992: ss.2(2), 11(1), 11(2), 11(4), 118, 12A-PowerofSEBlto probe GDRs sold by Indian Companies backed by local shares to foreign investors and listed on overseas exchange D - Respondents lead managers dealt with the (GDRs) issued by six companies - Allegation that GDRs fictitiously created at global level by respondent to give false. appearance to the financial statement of the companies in order to mislead Indian E investors - SEBI debarring the respondents for a period of 10 years prohibiting respondents
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