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New Delhi, July 6 (PTI) The Supreme Court today refused to pass an early verdict on a 2006 plea of Bank of Rajasthan challenging a Sebi order that had restrained it from listing 90 lakh of its equity shares on the Bombay Stock Exchange. A bench comprising Chief Justice S H Kapadia and Justices K S Radhakrishnan and Swatanter Kumar heard the plea of Bank of Rajasthan (BoR), which is in the process of being merged with ICICI Bank, but refused to pass any orders. "No order for the time being in this case," the bench said when matter was taken up for hearing. BoR had approached the apex court in 2006 challenging the order of the markets watchdog Sebi which had asked BSE not to list the 90 lakh equity shares issued by the Udaipur-based bank to its promoters, the Tayal family, which now controls majority stake in the lender. The BoR counsel pleaded that case that was filed in December 2006, is complete now and the matter would be now finally heard by the apex court. But the court refused to entertain the plea. BoR had challenged the Sebi order that had restrained it from listing its 90 lakh shares, allotted to a select group of people on a private placement basis without offering to the public on the BSE. Sebi had said the allotment of these shares to a select group violated Sebi''s regulations on substantial acquisition of shares and takeover code of 1997.
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