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NCLAT set aside tribunal's order for directing transfer of shares to co. as it exceeded its jurisdiction

December 12, 2018[2019] 101 25 (NCL-AT)

CL : Where in a petition filed under section 111A, NCLT found that appellants violated regulation 13 of 'Securities and Exchange Board of India (Prohibition of Insider Trading) Regulation, 1992 and directed appellant shareholder to sell its shares to company, Tribunal exceeded its jurisdiction by annulling shares and by directing appellants to transfer shares to company

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