Appeal No.117 of 2013. Case: Fresenius Kabi Oncology Ltd. Vs Securities and Exchange Board of India. Securities and Exchange Board of India

Case NumberAppeal No.117 of 2013
CounselFor the Appellant: Mr. Janak Dwarkadas, Senior Advocate with Ms. Akila Agrawal, Ms. Radhika Arora and Mr. Anish Wadia, Advocates and For the Respondent: Mr. Darius Khambata, Advocate General with Mr. Mihir Mody and Mr. Akhilesh Singh, Advocates
JudgesJog Singh, Member
IssueSecurities and Exchange Board of India Act
Judgement DateJune 24, 2013
CourtSecurities and Exchange Board of India


Jog Singh (Oral)

Heard both the learned senior counsel for the parties for some time. During the course of the argument it is realised that by order dated June 4, 2013, more than 100 companies have been asked to submit their replies as regard compliance with the mandatory requirement of 25 percent public shareholding pursuant to Rule 19A of SCRR which was brought into force with effect from 4th June, 2010. We have considered the matter and have given our thoughtful consideration to the same. In the instant case, we note that the appellant itself has voluntarily decided to delist its stock and has progressed a lot in this direction as required by law. There are about 25 legal formalities/steps to be complied with by the appellant in this regard and we are told that more than 15 such conditionalities have since been complied with. Therefore, it is a matter of another couple of months that the delisting process is expected to be completed. Therefore, we are of the opinion that it is apparently a case which stands on...

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