In its interim order, the SAT had restricted PNB Housing from declaring the results of shareholders’ votes on the deal with Carlyle. The matter was heard by a two-judge Bench of Presiding Officer Justice Tarun Agarwala and Judicial Member Justice MT Joshi. Justice Agarwala ruled in favour of the housing finance company, while Justice Joshi agreed with the market regulator’s action. However, Justice Joshi differed with Justice Agarwala. Therefore, in my view the same cannot be called as illegal or unjustified,” Justice Joshi said in the order.

Source: Indian Express August 09, 2021 21:56 UTC