https://www.taxtmi.com/caselaws?id=258183 The court found that the share transfer process in Sudipti, Shalika, and Felicite was a sham transaction by DLF, leading to the conclusion that these entities continued to be subsidiaries of DLF. The Noticees were held responsible for failing to disclose true and adequate information in the RHP/Prospectus, violating various clauses of the DIP Guidelines. Additionally, the court determined that the Noticees actively suppressed material information and facts in the RHP/Prospectus to mislead and defraud investors. As a result, DLF Limited and its key personnel were barred from the securities market for three years to protect investor interests and market integrity. en-us Fri, 10 Oct 2014 00:00:00 +0530 Mon, 02 Feb 2015 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258183 The court found that the share transfer process in Sudipti, Shalika, and Felicite was a sham transaction by DLF, leading to the conclusion that these entities continued to be subsidiaries of DLF. The Noticees were held responsible for failing to disclose true and adequate information in the RHP/Prospectus, violating various clauses of the DIP Guidelines. Additionally, the court determined that the Noticees actively suppressed material information and facts in the RHP/Prospectus to mislead and defraud investors. As a result, DLF Limited and its key personnel were barred from the securities market for three years to protect investor interests and market integrity. Case-Laws Companies Law Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258183