SAT overrules SEBI, allows PNB HF’s EGM on Carlyle
The Hindu
Setting aside SEBI’s direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders’ meeting on Tuesday to consider the proposed ₹4,000 cror
Setting aside SEBI’s direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders’ meeting on Tuesday to consider the proposed ₹4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders’ voting will not be disclosed till further directions from the tribunal.
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Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.