https://www.taxtmi.com/caselaws?id=112249 A transferee-company's repeated undertaking to meet the stipulated minimum public shareholding for listing-related relaxation was treated as binding, and compliance was directed within a fixed time. The Court linked the stock exchange's consequential obligation to act on the earlier relaxation order under rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 only after the company first fulfilled those conditions. The operative effect was that regulatory relief remained contingent on prior compliance with the undertaking, with the stock exchange required to give effect to the earlier order once that compliance was achieved. en-us Wed, 22 Aug 2007 00:00:00 +0530 Mon, 29 Dec 2014 20:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112249 A transferee-company's repeated undertaking to meet the stipulated minimum public shareholding for listing-related relaxation was treated as binding, and compliance was directed within a fixed time. The Court linked the stock exchange's consequential obligation to act on the earlier relaxation order under rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 only after the company first fulfilled those conditions. The operative effect was that regulatory relief remained contingent on prior compliance with the undertaking, with the stock exchange required to give effect to the earlier order once that compliance was achieved. Case-Laws Companies Law Wed, 22 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112249