Issue of Capital and
Disclosure Requirements, Regulations, 2018)
(hereinafter referred to as „ICDR Regulations‟) and
that the valuation report given by BRM was also ... value which is
different from the floor price determined under the
ICDR Regulation which only determines the minimum
floor price. It was also indicated that
convenience) (Issue of Capital and Disclosure
Requirements) Regulations, 2009 ("ICDR Regulations, 2009"
for convenience). In Appeal No. 499 of 2019 the impugned
order ... violation of Regulation 108 (2) of the ICDR
Regulations, 2009.
2. The facts leading to the filing of the present appeal is,
that the appellant
SEBI
(Issue of Capital and Disclosure Requirements) Regulations,
2018 ("ICDR Regulations" for convenience) exempting
Tamilnad Mercantile Bank Limited (hereinafter referred ... Bank") from strict compliance of the ICDR Regulations.
2. We have heard Dr. Abhishek Manu Singhvi, the learned
senior counsel, Shri M. S. Krishnan
India (Issue of Capital and
Disclosure Requirements, 2018 (hereinafter referred to
as „ICDR Regulations‟) in relation to preferential
allotment of shares of Ruchi Soya Industries ... Company was not in compliance with Regulation
160(d) of the ICDR Regulations as the Company,
while making a preferential issue, did not ensure that
Capital and
Disclosure Requirements) Regulations, 2009 (referred to
hereinafter as 'ICDR Regulations') as well as Regulation 13 of
Securities and Exchange Board ... aforesaid disclosures and, therefore,
violated Regulation 64(1) of the ICDR Regulations as well as
Regulation 13 of Merchant Bankers Regulations read with
Clauses
Issue of
Capital and Disclosure Requirements) Regulations,
2009 (hereinafter referred to as „ICDR Regulations,
2009‟) and Clause 2 (XVI) (B) (2) of Part ... Schedule VIII read with Regulation 57(2)(a) of ICDR
Regulations, 2009.
12
11. It was alleged that the Company had no plan from
SEBI (Issuance
of Capital & Disclosure Requirements) Regulations
2009 ("ICDR Regulations") read with Section 12A(a),
(b) and (c) of the SEBI ... clause (XVI) (B)(2) of Part A of
Schedule VIII of the ICDR Regulations.
(iii) Whether IGSL failed to disclose acceptance of
deposits under Section
Capital and Disclosure Requirements) Regulations,
2009 (hereinafter referred to as the 'ICDR
Regulations'). During the enquiry, respondent SEBI
found that the Company ... that the appellants have
not committed any breach of DIP Guidelines and
ICDR Regulations as those were not applicable to the
issue
Capital and Disclosure
18
Requirements) Regulations, 2009 (hereinafter referred to
as „ICDR Regulations) were notified.
12. The definition of the term promoter and promoter
group ... facility, Regulation 2(z)(a) and
2(z)(b) of the ICDR Regulations are extracted hereunder:
―2(za) ―promoter‖ includes:
(i) the person or persons
Capital
and Disclosure Requirements) Regulations, 2009 (hereinafter
referred to as the 'ICDR Regulations') and Securities and
Exchange Board of India (Prohibition of Fraudulent ... Adjudicating Officer pointing towards the
provisions of Regulation 60(4) of ICDR Regulations
concluded that the statement in the RHP and prospectus
that
