0490-2021 Swallow Associates LLP vs SEBI
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“44. ……There can be no “person acting in concert” unless there is a shared common objective or purpose between two or more persons of substantial acquisition of shares etc. of the target company. For, dehors the element of the shared common objective or purpose the idea of "person acting in concert" is as meaningless as criminal conspiracy without any agreement to commit a criminal offence. The idea of "persons acting in concert" is not about a fortuitous relationship coming into existence by accident or chance. The relationship can come into being only by design, by meeting of mi
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI
Date of Hearing : 24.01.2022
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Source: SecMarx — 0490-2021 Swallow Associates LLP 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.