Release of Buyback Escrow Does Not Bar SEBI From Proceeding Against Company for Fraud Under PFUTP Regulations: Supreme Court

The Supreme Court has ruled that the release of an escrow deposit under Regulation 15B(8) of the SEBI (Buyback of Securities) Regulations, 1998 does not preclude or bar an independent investigation or finding of market fraud under the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (PFUTP Regulations). A

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