Supreme Court of India
A. R. Dahiya v. Sebi
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
Resultantly, the price offered to HSIDC could not be taken into consideration as provided under Regulation 20(2)(b) of the Regulations to determine the minimum offer price.
Judgment, page 13
From the headnote
Securities and Exchange Board of India (Substantial c Acquisition of Shares and Takeovers) Regulations, 1997 - Regs 3, 10, 11, 12, 16 and 20 - Takeover of company - Transaction of buy-back of shares between promoter and State Financial Institution - Requirement of disclosure in the public announcement - On facts, takeover of company, appellant-promoter acquiring in excess of 15% of the total shareholding of the Target Company - Appellant made a public announcement making an offer to the remaining shareholders of the target company to purchase shares of the company at an offer price of Rs 8.
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