(1.) The petitioners have filed this writ petition seeking a declaration that the application dated 16-11-1993, which was filed by them before the RBI, i.e., respondent No. 1, was and is entitled to receive automatic approval for raising the equity/ shareholding of petitioner No. 3 from 49.98 per cent to 51 per cent at the rate of Rs. 105 per share post- amalgamation in accordance with para 'C' of Securities Exchange Board of India (SEBI) guidelines and Press Note 13 (1992 series) dated 19-6-1992.
(2.) The petitioners have also prayed for a declaration that the application dated 16-11-1993 does not fall to be decided under the revised guidelines dated 3-6-1994, but that the same be dealt with or treated as disposed of in accordance with the Press Note 13 of 1992 series.
(3.) The petitioners have also sought a declaration that the impugned decision contained in the letter dated 17-6-1994 be directed to be quashed and withdrawn.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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