Case Study of Wadhera Enterprises Limited – Law Assignment Help

Task

Question. 1    

Wadhera Enterprises Limited (“Company”), an unlisted company, has decided to bring an Initial Public Offer (IPO) and filed a Draft Red Herring Prospectus (DRHP) with Securities Exchange Board of India (SEBI). The Company is not able to correctly interpret a circular issued by SEBI recently. Mr. Pawan Shah, the managing director of the Company wants to seek informal guidance under SEBI Informal Guidance Scheme, 2003. However, Mr. Ramesh, an executive director of the Company, is of a view that since the Company is not yet listed on any stock exchange, it can’t seek guidance from SEBI. In his view, SEBI will entertain the concerns of only of a listed company and not of an unlisted one. Being the legal head of the Company, you have been asked to advise on the following matters:

1. Whether Company can apply for informal guidance in the given situation? Explain the rationale.

2. Who can apply for informal guidance under the aforesaid scheme and    what    are    the

Question. 2    

“SEBI Complaints Redress System (“SCORES’) is efficient system of investor grievance redressal mechanism of SEBI”. Discuss the aforesaid statement and salient features of SCORES.

a. What do you mean by Securities Appellate Tribunal (“SAT”)? As a lawyer, advise the aggrieved party about the appeal procedure and powers of SAT.

Question. 3    

Discuss any three from the below list: –

i. ‘Debt Market’ and ‘Equity Market’.
ii. ‘Unpublished Price Sensitive Information’
iii. Portfolio Managers and Custodian
iv. Re-materialization

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