https://www.taxtmi.com/caselaws?id=345261 The Tribunal found that the Respondents' acquisition of shares without complying with SEBI Regulations, specifically the late disclosure of shareholding exceeding 5%, was in violation of the law. The shares acquired in excess of 5% were ordered to be offered for buyback by the Petitioner Company at prevailing market value. The Respondents were directed to transfer the shares within 30 days. The Tribunal clarified that SEBI retained jurisdiction to address any violations. The petition was allowed without costs awarded. en-us Wed, 05 Jul 2017 00:00:00 +0530 Thu, 13 Jul 2017 07:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345261 The Tribunal found that the Respondents' acquisition of shares without complying with SEBI Regulations, specifically the late disclosure of shareholding exceeding 5%, was in violation of the law. The shares acquired in excess of 5% were ordered to be offered for buyback by the Petitioner Company at prevailing market value. The Respondents were directed to transfer the shares within 30 days. The Tribunal clarified that SEBI retained jurisdiction to address any violations. The petition was allowed without costs awarded. Case-Laws Companies Law Wed, 05 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345261