https://www.taxtmi.com/caselaws?id=432510 Rectification jurisdiction under Section 59 of the Companies Act, 2013 and Section 111A of the Companies Act, 1956 is confined to summary correction of the register and cannot be used to decide disputed share-acquisition validity, declare transactions null and void, or order compulsory buy-back. Alleged breaches of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and the SEBI (Prohibition of Insider Trading) Regulations, 1992 fall within SEBI's statutory investigative and adjudicatory framework, so such violations must be examined by the regulator rather than the Tribunal in rectification proceedings. The ruling rejects parallel jurisdiction and limits rectification to its narrow statutory purpose. en-us Wed, 04 Jan 2023 00:00:00 +0530 Sat, 07 Jan 2023 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432510 Rectification jurisdiction under Section 59 of the Companies Act, 2013 and Section 111A of the Companies Act, 1956 is confined to summary correction of the register and cannot be used to decide disputed share-acquisition validity, declare transactions null and void, or order compulsory buy-back. Alleged breaches of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and the SEBI (Prohibition of Insider Trading) Regulations, 1992 fall within SEBI's statutory investigative and adjudicatory framework, so such violations must be examined by the regulator rather than the Tribunal in rectification proceedings. The ruling rejects parallel jurisdiction and limits rectification to its narrow statutory purpose. Case-Laws Companies Law Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432510