https://www.taxtmi.com/caselaws?id=308980 The appeal was disposed of by the court, leaving the legal question open and clarifying that the Securities Appellate Tribunal's order would not set a precedent. The Respondent had sold their stake in the Target Company and did not appoint their Director on the Board, maintaining only about six percent shareholding. Another company had acquired majority stake and control of the Target Company, complying with the relevant regulations. Consequently, the appeal was resolved without costs. en-us Wed, 16 Nov 2011 00:00:00 +0530 Fri, 04 Aug 2023 15:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308980 The appeal was disposed of by the court, leaving the legal question open and clarifying that the Securities Appellate Tribunal's order would not set a precedent. The Respondent had sold their stake in the Target Company and did not appoint their Director on the Board, maintaining only about six percent shareholding. Another company had acquired majority stake and control of the Target Company, complying with the relevant regulations. Consequently, the appeal was resolved without costs. Case-Laws SEBI Wed, 16 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308980