0100-2007 HFCL Infotel Ltd. vs Securities and Exchange Board of India
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Full text
“2. In this connection, it has been observed that the present listed capital of the company is Rs.10.45 crores, whereas additional capital of Rs.432.00 crores are to be listed on amalgamation. Thus a large capital of unlisted company gets listed on the Exchange without any disclosures to the prospective investors. 3. The Exchange after considering the facts in the matter, decided that listing of additional 43,20,00,250 equity shares issued pursuant to the scheme of amalgamation would be listed only after company makes an Offer for Sale as intimated in the Exchange letter no. Lis
IN THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
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Source: SecMarx — 0100-2007 HFCL Infotel Ltd. vs Securities and Exchange Board of India. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.