SAT Quashes SEBI Order on Linde India

The Securities Appellate Tribunal on Wednesday set aside an interim order by the Securities and Exchange Board of India against Linde India, an industrial gases and engineering company.

The tribunal asked Linde to appear before SEBI on May 27 for document inspection and file a reply within one week.

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SEBI has also directed the NSE to carry out a valuation of the company’s business and its related party transactions following complaints by the shareholders.

The matter pertains to various agreements and transactions by Linde with related parties Praxair India, and Linde South Asia Services, carried out without shareholder approval.

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