SEBI has jurisdiction on right issue offer made by unlisted company through letter of offer

HIGH COURT OF KERALA Securities and Exchange Board of India versus Kunnamkulam Paper Mills Ltd. Manjula Chellur, CJ. AND A.M. Shaffique, J. W.A. NO. 2203 OF 2009 W.P.C. NO. 19192 OF 2003 DECEMBER  20, 2012 JUDGMENT Shaffique, J. This appeal is filed by the Security Exchange Board of India (SEBI), the first respondent in the writ petition challenging the judgment of the learned Single Judge quashing Ext.P8 order passed by SEBI. 2. SEBI initiated proceedings against the petitioners when the 1st petitioner company made allotment of 173995 equity shares of Rs.10/- each to 163 per...