RBI approves Burman family entities’ open offer to acquire 26 pc additional stake in REL, ET LegalWorld
The Reserve Bank has approved the open offer of Burman family — the promoters of FMCG major Dabur — to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd (REL). The central bank also directed maintaining of the current board/management structure of REL. The Reserve Bank of India (RBI) said it […]
Sebi exempts Roshni Nadar from making open offer in two HCL entities, ET LegalWorld
Sebi on Friday exempted promoter Roshni Nadar Malhotra from making open offers in relation to proposed additional share acquisitions in HCL Technologies and HCL Infosystems. HCL Technologies and HCL Infosystems are listed on BSE and NSE. The orders came after Roshni Nadar Malhotra filed two separate applications with the regulator on September 30 and sought […]
SEBI appeals SAT’s ruling favoring Diageo in 2012 open offer case, ET LegalWorld
The Security and Exchange Board of India (SEBI) has served United Spirits Limited with notice of an appeal before the Supreme Court of India against the order of the Security Appellate Tribunal dated July 26, 2023. The Security Appellate Tribunal has allowed an appeal filed by Diageo plc (i.e., the ultimate parent of United Spirits […]
Sebi mulls allowing Associations of Persons to open demat accounts, ET LegalWorld
Markets regulator Sebi on Wednesday proposed allowing Associations of Persons (AOPs) to open demat accounts in their name to hold certain securities, excluding equity shares. The proposal if implemented would promote ease of doing business and encourage the shift from physical to electronic holdings of securities. In its consultation paper, Sebi has proposed amending its […]
Lady Justice in SC library now holds a Constitution with open eyes, ET LegalWorld
In an initiative shedding the colonial imprint and traditional attributes, the statue of Lady Justice, in the judges’ library of the Supreme Court, now holds a copy of the Indian Constitution, instead of a sword, and the blindfold has come off to leave her with open eyes. The change effected under the tenure of incumbent […]
Will lay down law on high courts revoking orders dictated in open courts: SC, ET LegalWorld
The Supreme Court on Friday said it will lay down the law on the issue of high courts revoking orders dictated in open courts after the top court came across a case in which the Madras HC quashed a money laundering case against a former IPS officer and later modified its direction and reheard the […]
Sebi exempts Spice Healthcare from making open offer for SpiceJet shareholders, ET LegalWorld
Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline. In this […]
Applications Open for PACER User Group
The federal Judiciary is accepting applications for membership in its public user group that provides advice and feedback on ways to improve electronic public access (EPA) services. The EPA Public User Group consists of up to 12 members representing a cross section of people who use the Public Access to Court Electronic Records (PACER) system to […]