#preferential allotment

The Supreme Court ruled that shareholder ratification cannot cure fraudulent diversion of funds raised through preferential allotment, upholding SEBI’s penalties under PFUTP Regulations. The judgment reinforces that fraud in securities markets cannot be legitimized by post-facto approval, impacting corporate governance and regulatory compliance.

Supreme Court strikes down preferential housing allotments to governing body members, upholding transparency and equal opportunity in public-interest societies.

Supreme Court strikes down preferential housing allotments to governing body members, upholding transparency and non-arbitrariness in public-spirited societies.