SAT Quashes SEBI Order on Linde India

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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.

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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.

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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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