Jurisprudence of SEBI (LODR) regulations 2015 in Filing up Casual Vacancy in Office of Independent Director

Last week Hon’ble SAT pronounced an order in the matter of NECTAR LIFESCIENCES LIMITED where the question of law with respect to the applicability of Regulations 17(1A) of SEBI (LODR) Regulations 2015 and the requirement of prior shareholder approval in filing up the casual vacancy if such director has attained the age of 75 years. I am happy to share that I represented and argued in the said case on behalf of NECTAR LIFESCIENCES. The SAT ruling was in the favour of the company and the penalty levied by NSE was set aside. 1. Brief background of the case: NSE levied penalty on Nectar Lifesci...