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SECURITIES AND EXCHANGE BOARD OF INDIA
D K SINGH, VENKATESH NAIK T, JJ
BSE LIMITED – Appellant
Versus
KHODAY INDIA LIMITED – Respondent
| Table of Content |
|---|
| 1. appeals against company judge orders on delisting and record date. (Para 1 , 2 , 3 , 4) |
| 2. non-compliance with mps and delisting regulations prejudices public shareholders. (Para 5 , 6 , 7 , 8 , 9 , 10) |
| 3. sebi's challenges to capital reduction scheme and mps violations. (Para 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18) |
| 4. appellants argue scheme circumvents delisting regulations. (Para 19 , 20 , 21 , 22 , 23 , 24 , 25) |
| 5. respondent defends sanctioned capital reduction and record date. (Para 26 , 27 , 28 , 29) |
| 6. mps requirements under scrr rules 19a ensure public shareholding. (Para 30 , 31 , 32 , 33 , 34 , 35) |
| 7. company proceedings distinct from sebi regulatory actions. (Para 36 , 37 , 38 , 39) |
CAV JUDGMENT
(PER: HON'BLE MR. JUSTICE VENKATESH NAIK T)
OSA No.3/2020 is filed by the appellant/BSE Limited (Bombay Stock Exchange Limited) under Section 483 of the Companies Act, 1956 r/w Rules 6 and 9 of the Companies Court Rules, 1969 read with Section 4 of the Karnataka High Court Act to set-aside the order dated 07.02.2020 passed by the learned Company Judge in C.A.No.289/2016 in CoP.No.132/2014, whereas, OSA No.28/2015 is filed by the Security Exchange Board of India('SEBI' f
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