Supreme Court of India

Securities & Exchange Board of India v. Burren Energy India Ltd. & Ors.

Neutral citation
Reported as [2016] 8 S.C.R. 101
Bench Ranjan Gogoi and N.V. Ramana JJ.
Decided 2 December 2016

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.

From the headnote

Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - Regns. 22(7), 2(1)([) - Acquisition of 26.01% of the share capital in the target company on the date of Share Purchase Agreement by the acquirer - On the same date appointment of directors i11 the target company by the acquirer company and the company acting in concert - SEEi held that this amounted to violation of Regn. 22(7) since the appointment was made during the offer period-date of execution of share purchase agreement - Tribunal held them not liable for violating Regn. 22(7) -

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