Connected person cannot reasonably be expected to have access to Unpublished Price Sensitive Information by virtue of such connection.

[Case Brief] Chintalapati Srinivasa Raju vs Securities and Exchange Board of India

Case name Chintalapati Srinivasa Raju v. SEBI Citation AIR 2018 SC 2411 Court Supreme Court of India  Bench  Justice R. F. Nariman and Justice Navin Sinha Decided on  May 14, 2018 Relevant Act/Sections Section 12 of the Securities Exchange…

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[Case Brief] Securities Exchange Board of India v. Rakhi Trading Pvt. Ltd.

Investors’ confidence in capital/securities market is a reflection of the effectiveness of the regulatory mechanism in force

Fairness, integrity, and transparency are hallmarks of the stock market in India. The present case involves two sets of party respondents – traders and brokers. Securities Exchange Board of India (“SEBI”) proceeded against the traders for violation of Reg.…

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[Case Brief] United India Insurance Co. Ltd. v/s Antique Art Exports Pvt. Ltd. - 2019 (3) ARBLR 51 (SC)

The powers under Section 11(6) of the Arbitration Act can be exercised only when the claiming party establishes its case by placing satisfactory material on record.

The present judgment was delivered by a two judge bench consisting of Justice Ajay Rastogi and Justice AM Khanwilkar on March 28, 2019. It deals with section 11(6) and Section 11(6A) of the Arbitration and Conciliation Act, 1996. In…

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An implicit waiver by one party will not exempt the other party from performance of statutorily stipulated duties if the dispute goes to the root of the proceedings, and the court shall still have jurisdiction to adjudicate the dispute

[Case Brief] Trishul Developers v/s L&T Housing Finance Limited and others

Case name Trishul Developers v/s L&T Housing Finance Limited and others Case number Writ Petition No. 22137 of 2019 (GM-DRT) Court High Court of Karnataka (Bengaluru) Bench Justice L. Narayana Swamy & Justice R.Devdas Decided on  June 27, 2019…

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The Court cannot appoint an independent arbitrator unless it first resorts to the mechanism of appointment of arbitrator as mutually decided by the parties

[Case Brief] Union of India v/s Parmar Construction Company

Case name Union of India v/s Parmar Construction Company Case number Civil Appeal Number 3303 of 2019 Court Supreme Court of India Bench Justice Ajay Rastogi and Justice A.M. Khanwilkar Author of the judgment Justice Ajay Rastogi Decided on…

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The bagging of the lowest price bid by the Company for execution of new projects is not in the ordinary course of business and would be deemed to be a price sensitive information.

[Case Brief] Mr. G. Bala Reddy and Ors. vs Securities and Exchange Board of India

Case name Mr. G. Bala Reddy and Ors. vs Securities and Exchange Board of India  Case number Appeal No. 509 of 2015 Court Securities Appellate Tribunal  Coram  Justice Tarun Agarwala, Presiding Officer Dr. C.K.G. Nair, Member Justice M.T. Joshi,…

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