https://www.taxtmi.com/caselaws?id=444950 Bombay HC held that minority shareholders of BNL were entitled to receive documents related to SEBI investigation and settlement proceedings. The court rejected arguments that Regulation 29's confidentiality provisions barred disclosure to shareholders, ruling that minority shareholders cannot be considered "public" under the regulation as they are integral company stakeholders with legitimate interests. The court emphasized that shareholders of the same class cannot claim confidentiality against each other, as this would create disharmony and damage company functioning. SEBI's investor protection mandate further supported disclosure rights. The petitioners were granted interim relief for document supply. en-us Mon, 23 Oct 2023 00:00:00 +0530 Wed, 06 Dec 2023 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444950 Bombay HC held that minority shareholders of BNL were entitled to receive documents related to SEBI investigation and settlement proceedings. The court rejected arguments that Regulation 29's confidentiality provisions barred disclosure to shareholders, ruling that minority shareholders cannot be considered "public" under the regulation as they are integral company stakeholders with legitimate interests. The court emphasized that shareholders of the same class cannot claim confidentiality against each other, as this would create disharmony and damage company functioning. SEBI's investor protection mandate further supported disclosure rights. The petitioners were granted interim relief for document supply. Case-Laws SEBI Mon, 23 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444950