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Supreme Court of India

Ifb Agro Industries Limited v. Sicgil India Limited and Others

Neutral citation
Reported as [2023] 1 S.C.R. 527
Bench A. S. Bopanna and Pamidighantam Sri Narasimha JJ.
Decided 4 January 2023

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.

2 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the opinion that the Appellant is not justified in invoking the jurisdiction of the CLB under Section 111A of the Act for violation of SEBI regulations.

Judgment, page 25

From the headnote

Companies Act, 2013 : s. 59 – Rectification of regi ster of members – Scope of Rectificatory jurisdiction of National Comp any Law tribunal-NCLT – Violation of – On facts, respon dent No.1 acquired shares of the appellant exceeding 5% of it s total shares from the open market and failed to make disclosure as per Reg .7(1) of SAST Regulations and Reg. 13 of PIT Regulations – Appellant filed petition before NCLT u/s 111A of the 1956 Act (now s. 59 of the 2013 Act) for rectification of members register by deleting the name of the respondents as the owners of shares whi ch are over 5% – Allowed

Authorities it was built on

Where later benches applied it

Of those, 1 referred to · 1 mentioned

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