|
| Exchange Disseminated Time | With reference to Increase in Volume, International Paper APPM Ltd has Clarified to BSE as under:
"The Company is not aware of any reason for increase in the volume of shares traded on the stock exchange in the recent past.
However, we understand that Supreme Court of India vide its judgement dated Aug 20, 2014 in CA No.7390 of 2012 (IP Holding Asia Singapore Pte. Ltd. - Appellant Vs. SEBI - Respondent) held as under:
The question for consideration is whether the appellants in this appeal are liable to pay a non-compete fee to the public shareholders of the target company* as is being to be paid to the outgoing promoters of the target company which is being taken over by the appellants. In our opinion, the answer to this question must be in the negative.
*The Andhra Pradesh Paper Mills Limited" |
|
|