HB STOCKHOLDING LTD. Vs. DCM SHRIRAM INDUSTRIES LTD.

JUDGEMENT

(1.) THIS order governs CA No. 12/C No. 1/2013 filed by R -1, i.e., DCM Shriram Industries Ltd. in CP No. 192/2007. By the said application R -1 has, inter alia, prayed dismissal of CP No. 192/2007 as well as CA No. 448/2009 and in the alternative deferment of hearing thereof till civil appeal No. 5891 of 2012 is adjudicated by the hon'ble Supreme Court of India. In CP 192/2007 one of the grounds raised by the petitioners against the issue and allotment of Preferential Share Warrants (Convertible) by R -1 is the alleged violation of the provisions of Securities and Exchange Board of India Act, 1992 as well as the regulations issued thereunder, namely, Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ('the Takeover Regulations').

(2.) ORDER of memorandum of appeal (Annexure C) preferred before the Securities Appellate Tribunal ('SAT') Mumbai by HB Stockholdings Ltd., i.e., the petitioner herein.

(3.) ORDER dated 26th September, 2012 (Annexure F) passed by hon'ble Supreme Court of India in civil appeal No. 5891 of 2012 being an appeal preferred by the petitioners herein against the order dated 25th April, 2012 and lastly