LAW FOR ALL

Section 15 Z of the Securities and Exchange Board of India Act, 1992 = application for withdrawal of the public offer to acquire shares of the Golden Tobacco Ltd. in terms of public announcement (PA) dated November 12, 2009 under the provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (the Takeover Regulations). - Thus, there is no justification for automatic withdrawal from public offer without clear prejudice to the acquirer to the extent of rendering the carrying out of public offer impossible. In the facts of the present case, we do not find any ground to interfere with the concurrent finding of the SEBI and the SAT that request for withdrawal from public offer was not justified. = PRAMOD JAIN AND ORS Vs. SEBI ANIL R. DAVE, ADARSH KUMAR GOEL 07/11/2016 = 2016 Nov. http://judis.nic.in/supremecourt/imgst.aspx?filename=44283