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1 - 6 of 6 (0.27 seconds)Section 12A in The Securities and Exchange Board of India Act, 1992 [Entire Act]
Sybly Industries Ltd. & Ors. vs Sebi on 14 July, 2022
11. It was urged, that the appellant is a non-executive director
and that this Tribunal in Sybly Industries Ltd. vs. SEBI Appeal
No. 381 of 2019 decided on July 14, 2022 had exonerated the
non-executive director holding that they cannot be held to be
part of fraudulent scheme.
B. Appalanarasamma vs Sebi on 11 August, 2017
The learned counsel also place
reliance upon a decision of the Supreme Court in Chintalapati
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Srinivasa Raju and Ors. vs. SEBI (2018) 7 SCC 443 wherein it
was held that non-executive directors are persons who are not
involved in the day to day affairs of the running of the Company
and are not in charge of and not responsible for the conduct of
the business of the Company. It was thus urged, that on this
ground itself the appellant should be exonerated.
Section 3 in The Securities and Exchange Board of India Act, 1992 [Entire Act]
Section 4 in The Securities and Exchange Board of India Act, 1992 [Entire Act]
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