TECHNIP SA vs SMS HOLDING (PVT.) LTD. .

The Supreme Court addressed the issue of control acquisition under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 1997, determining that Technip acquired control of SEAMEC in April 2000, not July 2001 as held by SEBI. The Court upheld the Tribunal's finding that Technip violated Regulations 10 and 12 by failing to make a public announcement regarding the takeover. Consequently, Technip was directed to comply with the regulations and compensate minority shareholders accordingly.