2020 (5) TMI 560

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....rtaking to make good the defects within two weeks after resumption of the regular functioning of the Court. The application stands disposed of. C.A. No. 242/2020 1. This application has been filed by the applicant M/s Kuber Securities Limited for the following reliefs: "(a) direct the Official Liquidator to deliver to the Applicant, the Offer of Rights shares that it may receive from or on behalf of M/S Reliance Industries Ltd. or download the same from the website of the Company, as the case may be, after putting its signatures in the appropriate column in the presence of the Authorised Signatory of the Applicant immediately upon its receipt since time is the essence in the matter; and/or (b) direct the Liquidato....

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....2020, passed by a coordinate bench of this Court in various applications for similar relief, filed by other applicants. Those applications were disposed of with the following directions: "xxxx                     xxxx                       xxxx 4. The urgency expressed by the applicants is on account of the rights issue announced by Reliance Industries Ltd (RIL). The applicants claim that certain shares of RIL, which are registered in the name of CRB Capital Markets Limited (hereafter 'CCML') belong to them and their applicatio....

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....ourt Commissioner to sell the right entitlement of RIL shares as available to CCML. Karvy shall ascertain the number of RIL shares registered in the name of CCML and obtain the necessary form(s) for renouncing the right entitlement, from the Registrar of the Rights Issue. Karvy shall invite an offer for sale of the right entitlement of CCML and renounce the rights entitlement in favour of the person who offers the maximum price. The applicants would also be entitled to submit their offers. 9. On the strength of this order, Karvy would be entitled to sign all documents to complete the transactions on behalf of the CCML/Official Liquidator. All concerned entities including the Managers and Registrars to Rights Issue as well as RIL ar....