Mr. V. K. Kaul was a non-executive independent director of Ranbaxy Laboratories Limited for the period from January 1, 2007 to December 18, 2008.
The concept of Insider Trading in India started fermenting in the 80’s and 90’s and came to be known and observed extensively in the Indian Securities market.
The Supreme Court of India, on 31st August 2012, in one of its most anticipated judgment of recent times has directed the Sahara Group and its two group companies Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) to refund around Rs 24,029 crore to their 29.6 million investors within the stipulated time of 3 months from the date of the order with an interest of 15% per annum.
In this Audio discussion, we will discuss two case laws, BOI Finance Ltd vs. Custodian & ors and Bhagwati Developers Pvt Ltd vs. Peerless General Finance & Investment Company Limited and Anr:
Independent director means a person other than an executive officer or employee of the company or any other individual having a relationship which, in the opinion of the issuer's board of directors would interfere with the exercise of independent judgment