https://www.taxtmi.com/caselaws?id=101793 The High Court upheld the validity of conditions for membership enrolment at a stock exchange, dismissing challenges regarding arbitrariness and illegality in the application process. The court found the requirements for recommendations and the discretion of the council of management reasonable and necessary for assessing applicants' suitability in dealing with public securities. Emphasizing the regulatory framework under the Securities Contracts (Regulation) Act, the court affirmed the Central Government's control over recognized stock exchanges and rejected the petitions, deeming them without merit. en-us Thu, 29 Jun 1989 00:00:00 +0530 Sat, 11 Feb 2012 11:47:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101793 The High Court upheld the validity of conditions for membership enrolment at a stock exchange, dismissing challenges regarding arbitrariness and illegality in the application process. The court found the requirements for recommendations and the discretion of the council of management reasonable and necessary for assessing applicants' suitability in dealing with public securities. Emphasizing the regulatory framework under the Securities Contracts (Regulation) Act, the court affirmed the Central Government's control over recognized stock exchanges and rejected the petitions, deeming them without merit. Case-Laws Companies Law Thu, 29 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101793