https://www.taxtmi.com/caselaws?id=105885 The final judgment determined that respondents 1-5 were involved in a conspiracy to cause financial loss to Canfina by engaging in off-market securities transactions between 13-5-1992 and 15-5-1992. The court found that the transactions were interconnected and artificially structured, resulting in a loss of Rs. 22.12 crores to Canfina. The respondents were unjustly enriched, and the court ruled that Canfina could recover the losses incurred due to the violation of PMS guidelines. The ratification by Canfina's board did not extend to the depressed rates, and the authority of respondents 4 and 5 was not revoked by the 7-5-1992 letter. en-us Wed, 17 Jan 2001 00:00:00 +0530 Thu, 08 Aug 2024 23:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105885 The final judgment determined that respondents 1-5 were involved in a conspiracy to cause financial loss to Canfina by engaging in off-market securities transactions between 13-5-1992 and 15-5-1992. The court found that the transactions were interconnected and artificially structured, resulting in a loss of Rs. 22.12 crores to Canfina. The respondents were unjustly enriched, and the court ruled that Canfina could recover the losses incurred due to the violation of PMS guidelines. The ratification by Canfina's board did not extend to the depressed rates, and the authority of respondents 4 and 5 was not revoked by the 7-5-1992 letter. Case-Laws Companies Law Wed, 17 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105885