SAT dismisses Linde India plea challenging Sebi valuation in related party deals | Company Business News

The Securities Appellate Tribunal (SAT) has dismissed an appeal by Linde India challenging the valuation exercise conducted by a valuer appointed by the National Stock Exchange (NSE) in connection with the company’s related party transactions. The tribunal upheld the Securities and Exchange Board of India’s (SEBI) directive for a valuation to ensure transparency and compliance with regulatory standards. The case involved transactions between Linde India and its related parties, Praxair India and Linde South Asia Services, which were conducted without prior shareholder approval. SEBI’s investigation revealed that Linde India had not provided any valuation to its board when deciding on these transactions. The SAT emphasized the importance of adhering to Unpublished Price-Sensitive Information (UPSI) confidentiality rules during the valuation process. The decision highlights the regulatory scrutiny on related party transactions and the need for robust governance practices to protect shareholder interests.