In Minimum subscription calculation requests made for withdrawal of share application should be considered

HIGH COURT OF DELHI Securities & Exchange Board of India versus A.P.L. Industries Ltd. W.P.(C) NO. 1261 OF 2002 JANUARY  14, 2013 ORDER 1. This writ petition has been filed to assail the order of the Securities Appellate Tribunal (in short SAT) dated 18.10.2010. 2. It may be pertinent to note that by the said order, SAT has reversed the order dated 22.05.1998 passed by the Chairman, Security and Exchange Board of India (in short SEBI). 3. The challenge arises in the background of the following facts, most of which are not in dispute :- 3.1 Respondent no. 1/company had flo...