SAT gives split verdict over shareholder’s right versus Investors interest in the case of PNB Housing Finance Ltd.

COMPANY LAW/SEBI : Where SEBI by impugned communication restrained appellant-company from holding Extraordinary General Meeting (EGM) with regard to allotment of shares by way of preferential allotment on private placement basis for cash consideration, one of members of SAT out of coram of two members held that in view of section 24 of Companies Act read with rules 3(c) and 13(2) of Companies (Share Capital and Debenture) Rules, 2014,

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