SC Upholds SAT on Regulation 10 for Acquirer-PAC Holdings
Supreme Court upholds SAT’s application of Regulation 10 to combined acquirer-PAC holdings, dismissing SEBI appeals and clarifying SAT’s powers under Section 15T of SEBI Act.
Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Supreme Court upholds SAT’s application of Regulation 10 to combined acquirer-PAC holdings, dismissing SEBI appeals and clarifying SAT’s powers under Section 15T of SEBI Act.
The Supreme Court upheld SAT’s decision that Regulation 10 of SEBI (SAST) Regulations applies to combined shareholding of acquirer and PAC. SEBI’s appeals were dismissed.
The Supreme Court upheld SAT's interpretation that Regulation 10 of SEBI (SAST) Regulations applies to the combined shareholding of an acquirer and Persons Acting in Concert (PAC), dismissing SEBI's appeals and clarifying the scope of SAT’s jurisdiction under Section 15T of the SEBI Act.
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The Supreme Court dismissed SEBI’s appeals and upheld SAT’s interpretation that Regulation 10 of the SEBI (SAST) Regulations applies to combined shareholding of acquirer and promoter/acting in concert (PAC), clarifying the scope of open offer triggers.
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