https://www.taxtmi.com/caselaws?id=293637 The Tribunal found that the debentures issued were a private placement, not a public issue. It held that SEBI lacked evidence to prove public availability and noted the absence of investor grievances. The Tribunal ruled that SEBI's Guidelines are binding until laid before Parliament and set aside SEBI's order for refund, as debenture-holders opted for conversion. It determined that all grievances were resolved and directed prompt future redress. The Tribunal did not definitively address SEBI's power to restrain market access pre-amendment, modifying the access restriction order. en-us Mon, 19 Jul 2004 00:00:00 +0530 Mon, 22 Feb 2021 15:15:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293637 The Tribunal found that the debentures issued were a private placement, not a public issue. It held that SEBI lacked evidence to prove public availability and noted the absence of investor grievances. The Tribunal ruled that SEBI's Guidelines are binding until laid before Parliament and set aside SEBI's order for refund, as debenture-holders opted for conversion. It determined that all grievances were resolved and directed prompt future redress. The Tribunal did not definitively address SEBI's power to restrain market access pre-amendment, modifying the access restriction order. Case-Laws SEBI Mon, 19 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293637