https://www.taxtmi.com/caselaws?id=268266 Interim injunction against a rights issue and allotment process was declined where the plaintiffs alleged wrongful exclusion from promoter and promoter group disclosures and misstatements in the letter of offer. The Court held that the plaintiffs had not acted with diligence, since the non-inclusion had been reflected in shareholding patterns from 2013 onwards and the challenge was brought only when the issue was near completion. It further held that disputes over the letter of offer and related disclosures fell within SEBI's regulatory framework, for which the Securities and Exchange Board of India Act, 1992 provides alternate statutory remedies. On the facts, the rights issue had substantially progressed and the balance of convenience did not support restraint. en-us Mon, 16 Nov 2015 00:00:00 +0530 Mon, 23 Nov 2015 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268266 Interim injunction against a rights issue and allotment process was declined where the plaintiffs alleged wrongful exclusion from promoter and promoter group disclosures and misstatements in the letter of offer. The Court held that the plaintiffs had not acted with diligence, since the non-inclusion had been reflected in shareholding patterns from 2013 onwards and the challenge was brought only when the issue was near completion. It further held that disputes over the letter of offer and related disclosures fell within SEBI's regulatory framework, for which the Securities and Exchange Board of India Act, 1992 provides alternate statutory remedies. On the facts, the rights issue had substantially progressed and the balance of convenience did not support restraint. Case-Laws Companies Law Mon, 16 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268266