0027-2011 E-Land Fashion China Holdings Limited vs Securities and Exchange Board of India
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non-compete fee comes to Rs.9.64 per share which is only 6.96 per cent of the offer price as worked out under Regulation 20(4) of the takeover code. This is far less than the maximum prescribed by Regulation 20(8) and is in compliance with the takeover code. We are satisfied that this payment of non-compete fee is not an attempt on the part of the appellant to reduce the cost of acquisition to discriminate against the public shareholders. 7. We are also in agreement with Shri Janak Dwarkadas learned senior counsel appearing on behalf of the appellant that the pay
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Appeal No. 27 of 2011 Date of decision: 24.05.2011 E-Land Fashion China Holdings Limited
Walker House, 87 Mary Street,
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Source: SecMarx — 0027-2011 E-Land Fashion China Holdings Limited vs Securities and Exchange Board of India. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.