 "linde india")
The Securities Appellate Tribunal (SAT) dismissed an appeal filed by industrial gases and engineering firm Linde India against a valuation exercise being carried out by the National Stock Exchange (NSE) as per an order by the Securities and Exchange Board of India (Sebi).
The matter pertains to various agreements and transactions by Linde India with its related parties Praxair India and Linde South Asia Services.
Click here to connect with us on WhatsApp
Sebi had directed the company to seek shareholder approval if the aggregate value of the related party transactions (RPTs) exceeds materiality thresholds and directed NSE to appoint a registered valuer to carry out the valuation of the business.
The tribunal noted that there was no illegality in NSE appointing a valuer in pursuance of the Sebi order.
As Linde India had also raised concerns about possible leakage of unpublished price-sensitive information (UPSI) due to the valuation exercise, the tribunal directed the market regulator to maintain confidentiality.
“We direct Sebi to issue necessary orders/clarifications that NSE and the valuer appointed by NSE shall be bound by the UPSI confidentiality norms,” said SAT.
 "Chitra Ramkrishna, Ravi Narain")
 "NSE")
 "SEBI")
 "Indigo paints, Logo paints")
 "Market, Stock Market, BSE, NSE, NIfty")
