pnb housing finance: PNB Housing preferential allotment: Sebi can't have 2 pricing methods
Although PNB Housing’s articles of association (AoA) stipulate that the valuation should be conducted by a registered valuer, this is not required under the Companies Law for a listed company. “The golden rule of law is to follow what the legislature says. Sebi can’t say what the legislature says is wholly excluded is required to be followed because of the AoA,” Dwarkadas said. “I submit there is no room for ambiguity. Listed company as a class is concerned — they are wholly taken out. What is excluded is excluded. It can’t be brought through the back door.” Did you Know?
Source: indiatimes.com
