SAT Quashes SEBI Order Penalising Director for Minimum Public Shareholding Violation Without First Proceeding Against Company
The Securities Appellate Tribunal (SAT) has quashed the order passed by Securities and Exchange Board of India (SEBI) against a director of Falcon Tyres Ltd and a non-executive director of Dunlop India Ltd inter alia restraining them from accessing the securities market for a period of two years for allegedly violating certain provisions of the Listing Agreement and Securities Contracts (Regulation) Rules (SCRR) minimum public shareholding (MPS) requirement.
Source: moneylife.in
