https://www.taxtmi.com/caselaws?id=422399 The Supreme Court upheld the decision of the Securities Appellate Tribunal in a case involving an alleged violation of Regulation 23 of SEBI Regulations and the interpretation of Section 188 of the Companies Act, 2013. The Court dismissed the appeal, ruling that the related parties were not at fault for voting during the rescinding of a resolution, as the prohibition on related parties voting applied only at the time of entering into the initial contract or arrangement. The Court found that the actions of the related parties were permissible under the law and that SEBI's hyper-technical stance was unjustified. en-us Mon, 25 Apr 2022 00:00:00 +0530 Sat, 14 May 2022 08:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422399 The Supreme Court upheld the decision of the Securities Appellate Tribunal in a case involving an alleged violation of Regulation 23 of SEBI Regulations and the interpretation of Section 188 of the Companies Act, 2013. The Court dismissed the appeal, ruling that the related parties were not at fault for voting during the rescinding of a resolution, as the prohibition on related parties voting applied only at the time of entering into the initial contract or arrangement. The Court found that the actions of the related parties were permissible under the law and that SEBI's hyper-technical stance was unjustified. Case-Laws SEBI Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422399