https://www.taxtmi.com/caselaws?id=103770 The appeal challenging SEBI's jurisdiction and authority to direct a refund of a public issue due to fraudulent practices was dismissed. SEBI's findings of grey market operations and fraudulent practices led to the order for refunding the public issue proceeds. The appellate authority's ex parte dismissal of the appeal was set aside by the learned Single Judge, who imposed conditions for reviving the appeal, including a deposit of Rs. 50 lakhs with SEBI and creating a charge on properties purchased with diverted funds. The Court upheld these conditions, emphasizing the need to protect public interests and ensure compliance with legal provisions. en-us Fri, 18 Sep 1998 00:00:00 +0530 Fri, 24 Feb 2012 15:52:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103770 The appeal challenging SEBI's jurisdiction and authority to direct a refund of a public issue due to fraudulent practices was dismissed. SEBI's findings of grey market operations and fraudulent practices led to the order for refunding the public issue proceeds. The appellate authority's ex parte dismissal of the appeal was set aside by the learned Single Judge, who imposed conditions for reviving the appeal, including a deposit of Rs. 50 lakhs with SEBI and creating a charge on properties purchased with diverted funds. The Court upheld these conditions, emphasizing the need to protect public interests and ensure compliance with legal provisions. Case-Laws Companies Law Fri, 18 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103770