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Judgment Search Results Home > Cases Phrase: debentures companies act Court: sebi securities and exchange board of india or securities appellate tribunal sat Page 1 of about 84 results (0.187 seconds)

Jul 19 2004 (TRI)

Toubro Infotech and Industries Vs. Securities and Exchange Board of In ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2005)3CompLJ305SAT

..... on certain stringent conditions was not barred.30. with respect to the circular relied on by sebi, the circular relates to shares and not with respect to debentures. shares and debentures are separately defined in the companies act. more so the circular deals with renounceable rights of promoters' quota. the circular also refers to dissemination of information through the media.the circular has no ..... court has been placed before us on this subject.28. sebi bases its conclusion that because agents were engaged the debenture is a public issue. in other words, because the company had engaged agents, it was contrary to section 67 of the companies act and the engagement of agent was also banned by circular no. 7 of 1992 dated 6th of july, 1992 issued ..... wlr 237 (ch.d.), the court interpreted the provision in the english companies act, 1948, which was similar to section 67 of the companies act, 1956. "subject to the provisions of the next following section, it shall not be lawful to issue any form of application for shares in or debentures of a company unless the form is issued with a prospectus which complies with the ..... employment of agents was prohibited with respect to private placement. the employment of agents with regard to private placement of debentures is recognized in section 76(1)(b)(iii) of the companies act. section 76(1)(6)(iii) indicates that even with regard to private placement of debenture agents can be employed under certain conditions. it is not in dispute that under the .....

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Jul 27 2000 (TRI)

Bank of Baroda Vs. Securities and Exchange Board of

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... and protect the interests of shareholders and of the general investing public.30. part 111 of the companies act provides the ground rules for issue of shares and debentures and matters relating thereto. section 73 therein on the allotment of shares and debentures is the section with which we are mainly concerned in the present appeals, for the time being.31 ..... code with built in provisions to deal with defaults thereunder. proviisions of the act cannot be used to administer the provisions of the companies act. there is no linkage between section iib of the act and section 73 of the companies act. the matters relating to allotment of shares and debentures, listing of securities on stock exchanges, consequences of void issues and obligations of ..... company and its officers, etc. are compressed in section 73 of the companies act. in case an issue fails ..... prospectus has been designed in the statute itself and furnished in schedule 11 to the companies act thereby providing for disclosure of all the relevant materials to enlighten the public to make an informed decision to invest or not in the company's shares or debentures. all statements contained in the prospectus are matters permitted to be inserted by the .....

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Oct 25 2002 (TRI)

AshwIn K. Doshi, Pankaj G. Joshi, Vs. Securities and Exchange Board of ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... -section (5) of section 111a of the companies act, 1956, it is specified that the provisions of section 111a shall not restrict the rights of the holder of the shares or debentures to transfer such shares or debentures and any person acquiring such shares or debentures shall be entitled to voting rights unless the voting rights have been suspended ..... also will be depleted in that process. he further submitted that such a view would even affect the right available to the notified person under section 397 of the companies act to approach company law board seeking relief against oppression and mismanagement. he further submitted that the very purpose of notifying persons and simultaneous attachment of property is to preserve and protect ..... institutions -that acc and ambujas have entered into a "strategic alliance". sebi has left the issue of "strategic alliance" to be dealt with under the provisions of mrtp act or companies act, as the same "will not amount to control as defined under the takeover regulations." it is true that strategic alliance need not necessarily be one affecting the control if any ..... any equity share capital therein shall have a right to vote except in cases of unpaid call under sub-section (2) of section 92 of the companies act, 1956. further, under section 111a of the companies act, 1956, in the matter of transfer of shares the clb has been empowered to suspend voting rights under certain circumstances as an interim measure. under sub .....

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Jan 12 2005 (TRI)

Nath Seeds Ltd. Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2005)3CompLJ512SAT

..... basis shall be governed by these guidelines. 13.1 such preferential issues by listed companies by way of equity shares/fully convertible debentures (fcds)/partly convertible debentures (pcds) or any other financial instruments which would be converted into/exchanged with equity ..... the shareholders of nath seeds ltd. (nsl) passed a special resolution under section 81(1a) of the companies act, 1956 according sanction to the board of directors to issue 25 lakh optional fully convertible debentures (ofcds) of rs. 100/- each to another group company namely, nath royal ltd. (nrl) in consideration for acquisition of its business. the resolution provided that the ..... issue of equity shares/fully convertible debentures (fcds)/partly convertible debentures (pcds) or any other financial instruments which would be converted into or exchanged with equity shares at a later date, by listed companies whose equity share capital is listed on any stock exchange, to any select group of persons under section 81(1a) of the companies act, 1956, on private placement ..... clause means the date thirty days prior to the date on which the meeting of the general body of shareholders is held in terms of section 81(1a) of the companies act, 1956, to consider the proposed issue. (b) "stock exchange" for the purpose of this clause means any of the recognized stock exchanges in which the shares are .....

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Feb 07 2001 (TRI)

Goldeline Financial Services Vs. Hyderabad Stock Exchange

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... omitted or failed to dispose of, within the time specified in sub-section (1a) of section 73 of the companies act, 1956 (1 of 1956), thereafter in this section referred to as the 'specified time'), the application for permission for the shares or debentures to be dealt with on the stock exchange, within fifteen days from the date of expiry of the specified ..... forthwith refund the entire subscription amount received. if there is a delay beyond 8 days, after the company becomes liable to pay the amount, the company shall pay interest as per section 73 of the companies act, 1956". section 69 of the companies act, prohibits allotment of shares unless the minimum subscription stated in the prospectus is raised.14. on a perusal of the letter ..... the stock invest and collection received in the public issue account in the andhra bank.quoting the provisions of section 73 of the companies act, 1956, the learned counsel submitted that once the listing permission is granted, the issuer company is at liberty to appropriate the subscription money, and as such the appellant cannot be denied access to the subscription money by the ..... provisions of the said section as well. extract from section 73, considered relevant for the purpose, is reproduced below : "allotment of shares and debentures to be dealt in on stock exchange.--(1) every company intending to offer shares or debentures to the public for subscript ion by the issue of a prospectus shall, before such issue, make an application to one or more .....

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Jul 22 2009 (TRI)

Eight Capital Master Fund Ltd. and Others Vs. Securities and Exchange ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... per share having regard to the date on which the bod passed the resolution to convene the egm under section 81(1a) of the companies act for seeking approval of the shareholders for allotment of part a convertible debentures to the appellants on preferential basis. this meeting of the bod was held on march 3, 2006 and, according to the appellants, it ..... informing them that an egm would be held on march 27, 2006 for seeking their approval for allotment to the appellants on preferential basis 50,32,700 part a convertible debentures of rs.100 each carrying interest of 7 per cent per annum which ..... appellants on preferential basis in order to raise additional resources amounting to rs.122.40 crores to be utilized for returning the target companys debt and also for additional working capital requirements. a notice dated march 3, 2006 was issued under section 81(1a) of the companies act to the shareholders, inter alia, ..... incorporated under the companies act, 1956 with its registered office in hyderabad. its shares are listed on the bombay stock exchange limited (bse). on march 3, 2006 the board of directors of the target company (hereinafter referred to as bod) passed a resolution to convene an extraordinary general meeting (egm) for seeking the approval of its shareholders for allotting convertible debentures to the .....

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Mar 01 2007 (TRI)

Krishna Filaments Ltd. Vs. Chairman, Securities and

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2007)77SCL86SAT

..... of india). we shall refer briefly to the facts of this case.3. the appellant is a company incorporated under the provisions of companies act, 1956. it came out in april - may 1997 with a public issue of 33,45,000 secured optionally fully convertible discounted debentures of rs. 200 each for cash issued at a discounted price of rs. 160 aggregating to rs ..... . 5,352 lacs. the face value of the debenture was rs. 200 and it was offered at a discounted ..... exercised the equity option whereas the remaining large majority opted for getting them converted into non-convertible debentures with 19 per cent interest. it is alleged that with a view to enable large number of debenture holders to convert their debentures into equity of the company, the company and its promoters manipulated the price of the share in the market so that the conversion price ..... becomes higher. what is alleged is that the company and its directors with their own funds purchased the shares of the .....

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Nov 01 2003 (TRI)

Rakesh Agrawal Vs. Securities Exchange Board of

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... company viz abs industries ltd., (abs) is not disputed. the fact that ..... and therefore the meaning assigned to in the securities contracts (regulation) act has to be accepted. the definition of the expression securities under the said act include "shares, scrips, stocks, bonds, debentures, debenture stocks or other marketable securities of a like nature in or of any incorporated company or other body corporate." the security involved is shares of a public ..... section 2, and section 17 of the securities contracts (regulation) act, 1956 respectively or any employee of such member or dealer of a stock exchange; (iii) is a merchant banker, share transfer agent, registrar to an issue, debenture trustee, broker, portfolio managed, investment advisor, sub-broker, investment company or an employee thereof, or, is a member of the ..... , and section 17 of the securities contracts (regulation) act, 1956 (42 of 1956), respectively, or any employee of such member or dealer of a stock exchange; (iii) is a merchant banker, share transfer agent, registrar to an issue, debenture trustee, broker, portfolio manager, investment advisor, sub-broker, investment company or an employee thereof, or, is a member of .....

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Oct 05 2001 (TRI)

Pcs Industries Ltd. Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... gupta v. k.p. jain [1979] 3 scc 54. in this case the hon'ble court was examining the scope of the definition 'modify' in section 2(29) of the companies act which stated "modify and modification shall include the making of additions and omissions". the observation made by the hon'ble court is extracted below : "24. the noticeable feature of this ..... 1996 regulations.14. the expression 'security' has not been specifically defined in the sebi act. it has adopted the definition as provided in section 2 of the scr act. (i) shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate; (ib) units or any other instrument issued by any collective ..... regulations. according to shri barua the units in arihant mangal scheme were issued by crb trustee ltd., which is a company, that since the units are issued by a company, the same also fulfils the requirements of section 2(h)(i) of scr act that "shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated ..... company or other body corporate". shri barua referred to the 'guidelines for mutual funds' issued by the ministry of finance, government of india on 14-2-1992 and stated .....

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Aug 02 2006 (TRI)

Malanpur Steels Ltd. Vs. Adjudicating and Enquiry Officer

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... direction issued by sebi calling upon the company to redress the grievances of its debenture holders to whom money had not been paid amounts to requiring the company to pay those amounts to the debenture holders. non payment of those amounts makes the company liable for the imposition of penalty under section 15c of the act and non deposit of penalty amount would lead to prosecution ..... . a direction from sebi under section 15c of the act which has the effect of requiring a sick ..... industrial company to pay its creditors is a proceeding initiated ..... had not been paid to the debenture holders sebi took the view that the complaints had not been redressed and initiated proceedings for the imposition of penalty under section 15c read with section 15i of the act and appointed an adjudicating officer. the adjudicating officer issued a show cause notice dated may 21, 2003 to the company alleging that it had not redressed .....

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