Offer of RPS was considered as deemed public issue and abide by public issue norms of SEBI

In re Deemed Public Issue Norms (Securities and Exchange Broad of India)

In re Deemed Public Issue Norms (Securities and Exchange Broad of India) Conclusion:  Offer of RPS by the company and pursuant allotment were deemed public issue of securities under the first proviso to Section 67(3) of the Companies Act, therefore, all the noticees were jointly and severally with the company forthwith refund the money c...

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Posted Under: SEBI | |

SEBI bars ‘Reliance Industries’ from accessing equity market

Re. Reliance Petroleum Ltd. (RPL) (SEBI)

Going by the facts narrated by Noticee No. 1, liquidation of 5 % stake was decided. The same had to be done in an orderly manner. There was no outer time fixed for liquidation. Being guided by the analysts reports and the price trends of the scrip, Noticee No. 1 decided to start the sale in November 2007....

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Posted Under: SEBI | |

Facebook friends may be treated as connected for Insider Trading

In the matter of trading in the shares of Palred Technologies Limited (Securities and Exchange Board of India)

In this case observed that having mutual friends on Facebook will form the basis of determination and to establish connection between the parties who have committed Insider Trading in Violation of SEBI (Prohibition of Insider Trading) Regulations, 2015. ...

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Posted Under: SEBI | |

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