https://www.taxtmi.com/caselaws?id=381746 Concealment of structured loan arrangements that materially affected a listed company's capital structure, voting rights, corporate actions and control-linked rights can amount to fraud and an unfair trade practice under securities law, even if framed as private contracts. The nondisclosure of such price-sensitive arrangements to public shareholders was treated as deceptive conduct under Section 12A of the SEBI Act and Regulations 3 and 4 of the PFUTP Regulations. The promoter-directors' failure to disclose conflicts of interest also rendered their annual compliance affirmations inaccurate under Clause 49 of the Listing Agreement. The text further notes that preventive and remedial market-access and debarment directions may be warranted to protect investors and market integrity. en-us Fri, 14 Jun 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:46:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381746 Concealment of structured loan arrangements that materially affected a listed company's capital structure, voting rights, corporate actions and control-linked rights can amount to fraud and an unfair trade practice under securities law, even if framed as private contracts. The nondisclosure of such price-sensitive arrangements to public shareholders was treated as deceptive conduct under Section 12A of the SEBI Act and Regulations 3 and 4 of the PFUTP Regulations. The promoter-directors' failure to disclose conflicts of interest also rendered their annual compliance affirmations inaccurate under Clause 49 of the Listing Agreement. The text further notes that preventive and remedial market-access and debarment directions may be warranted to protect investors and market integrity. Case-Laws SEBI Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381746