Supreme Court · 2004 INSC 470 · Decided 25 August 2004
Swedish Match Ab and ANR. v. Securities and Exchange Board, India and ANR.
- Court
- Supreme Court of India
- Citation
- 2004 INSC 470 · [2004] SUPP. 3 S.C.R. 745
- Case number
- CIVIL APPEAL No. 2361/2003
- Decided
- 25 August 2004
- Bench
- N. SANTOSH HEGDE, S.B. SINHA, A.K. MATHUR (3-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 142; Companies Act
Headnote
Substantial Acquisition of Shares and takeovers Regulations, 1997; Regulations 2(e) and {c), JO, 11, 12, Proviso to Explanation (1) of Regulations 12, 14, 15, 16, 23, 44 and 45 : A B c Foreign companies and Indian companies jointly acquired majority shareholding in a company/target company-Foreign companies to take control over the target company independently without making any public announcement thereto-SEE! directed them to make public announcement in terms of Regulation 11 (1 )- D Affirmed by Security Appellate Tribunal-On appeal, Held: Interest of shareholders could be protected by
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