Subhkam Ventures India Private Limited v. SEBI, Appeal No. 8 of 2009 decided on 15.01.2010
The Securities Appellate Tribunal has recently passed an order in Subhkam Ventures India Private Limited v. SEBI clarifying that veto rights (right to veto certain actions proposed to be undertaken by the company) do not constitute ‘control’ under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
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