Securities Appellate Tribunal
Linde India Limited vs Sebi on 17 April, 2025
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 17.04.2025
Appeal No. 527 of 2024
[Along with Misc. Application Nos. 1065, 941 & 911 of 2024]
Linde India Limited ...Appellant
Versus
Securities and Exchange Board of India ...Respondent
Mr. Janak Dwarkadas, Senior Advocate with Mr. Kunal
Dwarkadas, Ms. Tamanna H.V., Mr. Prasad Shenoy,
Mr. Sandeep Parekh, Mr. Anil Choudhary, Mr. Parker Karia,
Ms. Navneeta Shankar and Mr. Manas Dhagat, Advocates i/b
Finsec Law Advisors for the Appellant.
Mr. Darius Khambata, Senior Advocate with Ms. Vidhi Shah
Ajmera, Mr. Mihir Mody, Mr. Yash Sutaria and Mr. Tushar
Bansode, Advocates i/b. M/s. K. Ashar & Co. for the
Respondent.
Mr. Akshay Petkar, Advocate i/b Mr. Harsh Kesharia, Advocate
for the Applicant in MA No. 941 of 2024.
ORDER:
Shri Janak Dwarkadas, learned senior advocate for the appellant and Shri Darius Khambata, learned senior advocate for the respondent, jointly submit that:-
(i) Mr. Khemani, who is a SEBI-registered valuer, appointed by NSE in place of M M Nissim & Co. LLP to carry out the valuation exercise vide NSE's letter dated September 09, 2024 and confirmed by SEBI vide its letter dated October 09, 2024, may be directed to carry out the valuation exercise in accordance with 2 SEBI WTM's Miscellaneous Order dated September 23, 2024.
(ii) It may further be directed that all information and data shared by the Appellant with M M Nissim & Co. LLP prior to Mr. Khemani being appointed as valuer shall be kept strictly confidential except sharing the same with Mr. Khemani. Mr. Khemani shall also maintain strict confidentiality of all information and data shared by the Appellant with him and the members of his team as directed in the order dated September 13, 2024 passed by this Tribunal.
2. Ordered accordingly.
3. For completion of the valuation all required information shall be supplied by the appellant within six weeks from today. Mr. Khemani shall complete the valuation process expeditiously.
4. Call on June 10 and June 11, 2025 at 02:30 P.M. Justice P. S. Dinesh Kumar Presiding Officer Ms. Meera Swarup Technical Member Dr. Dheeraj Bhatnagar Technical Member PRERNA Digitally signed 17.04.2025 by PRERNA MANISH MANISH KHARE PK Date: 2025.04.22 KHARE 17:57:02 +05'30'