Violation of SEBI Act is a criminal offence


Last updated: 14 August 2013

Court :
SUPREME COURT OF INDIA

Brief :
In September, 1991, an investment of Rs.65 crores came to be made by four subscribers, who applied for purchase of CANCIGO units floated by (Canbank Mutual Fund (hereinafter referred to as ‘CMF’), a fund created by Canara Bank. The Andhra Bank and Andhra Bank Financial Services Limited (‘ABFSL’ for short) made an investment of Rs. 33 crores. Two other transactions were made by the Sahara India and Industrial Development Bank of India (‘IDBI’ for short) worth Rs.32 crores

Citation :
B. RAGHUVIR ACHARYA … APPELLANT VERUS CENTRAL BUREAU OF INVESTIGATION … RESPONDENT WITH CRIMINAL APPEAL NO.1226 OF 2001 HITEN P. DALAL … APPELLANT VERUS CENTRAL BUREAU OF INVESTIGATION … RESPONDENT

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