0058-2021 Jaiprakash Kabra vs SEBI
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be played upon the shareholders and the investors. We are further of the opinion that finding of the WTM that the resolution of the Board of Directors dated June 27, 2006 provides execution of a pledge or execution of a charge agreement is wholly erroneous, perverse and based on no evidence. The resolution also does not stipulate that the proceeds could be utilized by the bank as security in connection with a loan taken by another entity. 13. In the light of the aforesaid, we are of the view that the appellant cannot be debarred only on the basis of being present in the resolution
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI
Date of Hearing : 30.08.2021
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Source: SecMarx — 0058-2021 Jaiprakash Kabra vs SEBI. 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.