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In its order in the matter of Rajeev Thakkar & Ors. v. SEBI pronounced on 26.11.2019, Securities Appellate Tribunal allowed an appeal filed by minority shareholders of Schneider Electric President Systems Ltd.

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SAT held that exclusively listed companies need to make serious attempts at getting listed on BSEIndiaNational Stock Exchange of India Limited / Metropolitan Stock Exchange of India Ltd. before considering an exit.

SEBI to pass a reasoned order within three months.

Regstreet ( Sumit Agrawal, Mahaveer Rajguru, Mittu Choudhary) along with counsel Somasekhar Sundaresan represented minority shareholders.

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