CASE LAWS
HILLCREST REALTY SDN.BHD v. HOTEL QUEEN ROAD (P) LTD.[(2006) 72 CLA 245 (CLB)]
Companies Act ,1956-Sections 3(1)(iii) and 3(1)(iv)(c ) -Private company subsidiary of a public company-Whether it losses its basic characteristics of a private company -Held, No.
HARDY OIL (P) LTD. v. SEBI [(2006) 68 SCL 287(SAT)] : SEBI (Substantial Acquisitions of Shares and Takeover)Regulations, 1997 - Regulation10 - Acquisition of shares more than 15% - Acquirer indirectly acquired 26% shares of the target company by acquiring the shareholder company Public announcement made after the completion of acquisition -Whether violates Regulation 10 of the Takeover Code - Held, No.
SEBI v. SHRIRAM MUTUAL FUND [(2006) 68 SCL 216 (SC)] : SEBI Act, 1992 read with SEBI (Mutual Funds) Regulations,1996 - Defaults committed by mutual fund - SEBI imposed penalty -
Tribunal set aside the order on the ground of lack of mens rea - Whether mens rea is a sine qua non for imposing penalty for defaults committed under the Regulations/ Act - Held, No.
Companies Act ,1956-Sections 3(1)(iii) and 3(1)(iv)(c ) -Private company subsidiary of a public company-Whether it losses its basic characteristics of a private company -Held, No.
HARDY OIL (P) LTD. v. SEBI [(2006) 68 SCL 287(SAT)] : SEBI (Substantial Acquisitions of Shares and Takeover)Regulations, 1997 - Regulation10 - Acquisition of shares more than 15% - Acquirer indirectly acquired 26% shares of the target company by acquiring the shareholder company Public announcement made after the completion of acquisition -Whether violates Regulation 10 of the Takeover Code - Held, No.
SEBI v. SHRIRAM MUTUAL FUND [(2006) 68 SCL 216 (SC)] : SEBI Act, 1992 read with SEBI (Mutual Funds) Regulations,1996 - Defaults committed by mutual fund - SEBI imposed penalty -
Tribunal set aside the order on the ground of lack of mens rea - Whether mens rea is a sine qua non for imposing penalty for defaults committed under the Regulations/ Act - Held, No.
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