sebi:CO/47/TO/06/2003
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Facts / Headnote
Acquirers directed to make delayed public announcement within 45 days and pay interest @15% p.a.; order effective immediately
Provisions invoked
- s. 11B
- s. 11
Regulations
- Reg. 6
- Reg. 10
- Reg. 12
- Reg. 14(1)
- Reg. 14(3)
- Reg. 44
- Reg. 22
- Reg. 45(6)
- Reg. 30A
Parties
- Shri N. V. S. Rao and his associates
Holding
The Acquirers violated Regulations 10 and 12 read with Regulation 14(1) and 14(3) by acquiring 96,000 shares being 42.67% of Mac Infotech Ltd on 04.04.2000 without public announcement, and were directed to make a public announcement taking 04.04.2000 as reference date within 45 days and pay interest @15% p.a. on the offer price from 03.08.2000 till actual payment.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order against Mac Infotech Limited Jun 12, 2003 | Orders : Orders of Chairman/Members CO/47/TO/06/2003 SECURITIES AND EXCHANGE BOARD OF INDIA
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why one or more or all actions under the Regulation 44 and Regulation 45(6) of the Regulations read with Section 11 B of the SEBI Act 1992, should not be initiated against them.
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Source: SecMarx — sebi:CO/47/TO/06/2003. 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.