SAT Quashes Sebi Order Against Linde India
The Securities Appellate Tribunal on Wednesday, May 22 set aside an interim order filed by the Securities and Exchange Board of India against Linde India, an industrial gases company.
Key Takeaways from the Order:
- SAT has set aside an interim order by SEBI against Linde India.
- SAT has asked Linde India to appear before SEBI on May 27 for document inspection.
- The matter pertains to various agreements and transactions by Linde with related parties Praxair India, and Linde South Asia Services.
The tribunal further asked Linde India to appear before SEBI on May 27 for the inspection of documents and file a reply within a week.
Further, SEBI directed the National Stock Exchange (NSE) to carry out a valuation of the company’s business and its related party transactions following complaints by the shareholders.
The order pertains to various agreements and transactions undertaken by Linde India with Praxair India and Linde South Asia Services, carried out without shareholders' approval.
About Linde India Limited:
Linde India Limited a leading global industrial gases and engineering company with a total of 2022 sales of $33 billion. The company’s gases division produces and distributes the atmospheric gases oxygen, nitrogen and argon manufactured in their air separation plants. Linde India provides high-quality solutions, technologies and services making its customers more successful and helping them sustain, de-carbonize and protect the planet.
Read More About Linde India Limited Share Price Here!
