https://www.taxtmi.com/caselaws?id=308215 The Supreme Court upheld SEBI's findings and directives in a case involving fraudulent activities by a Target Company and its promoters. Despite legal challenges, the Acquirers failed to comply with SEBI's order to make a public offer, leading to monetary penalties for non-compliance. SEBI determined the correct public offer price based on specific financial data and directed the Acquirers to complete the offer within 60 days, deposit funds in an escrow account, and refrain from securities market dealings. The judgment emphasizes the importance of protecting shareholders' interests and enforcing regulatory compliance. en-us Mon, 13 Dec 2021 00:00:00 +0530 Wed, 07 Jun 2023 21:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308215 The Supreme Court upheld SEBI's findings and directives in a case involving fraudulent activities by a Target Company and its promoters. Despite legal challenges, the Acquirers failed to comply with SEBI's order to make a public offer, leading to monetary penalties for non-compliance. SEBI determined the correct public offer price based on specific financial data and directed the Acquirers to complete the offer within 60 days, deposit funds in an escrow account, and refrain from securities market dealings. The judgment emphasizes the importance of protecting shareholders' interests and enforcing regulatory compliance. Case-Laws SEBI Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308215