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IN THE HIGH COURT OF KERALA AT ERNAKULAM
MR. P.M.MANOJ, J
THE TRAVANCORE RUBBER & TEA CO. LTD. – Appellant
Versus
UNION OF INDIA – Respondent
| Table of Content |
|---|
| 1. petitioner's company status and history (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. sebi's ext.p4 circular and its implications (Para 7 , 8) |
| 3. challenging sebi's circular and nse's actions (Para 9 , 10 , 11 , 12) |
| 4. court's observations on regulatory measures (Para 13 , 14 , 15 , 16) |
| 5. court's final directions to sebi regarding representation (Para 17) |
JUDGMENT
The writ petition is preferred challenging Ext.P4 Circular issued by Securities and Exchange Board of India (for short SEBI) and Exts.P11 to P14 proceedings of National Stock Exchange of India Ltd (for short NSE) pursuant to Ext.P4 Circular by the SEBI.
2. The petitioner company was incorporated under the provisions of the Travancore Companies Act in the year 1944, engaged in Tea and Rubber Plantation within the State of Kerala.
3. The petitioners were originally listed with the Madras Stock Exchange (for short MSE), which has become non-operational since the 1990s. The petitioner company's shares were not traded in the MSE after 1992. Thereafter, there was no listing agreement with the MSE. In such circumstances, on 06.09.2002, the Company passed a resolution to delist the Company from MSE, which was intimated through a le
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