sebi:WTM/AB/CFD/02/2025-26

SEBI · SEBI · 2023-09-11 · Ashwani Bhatia, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Exemption granted to Saraogi Family Trust and Saraogi Trust from complying with Regulations 3(1) and 4 of the Takeover Regulations, 2011 for the proposed acquisitions, subject to conditions

Provisions invoked

• s. 19

Regulations

• Reg. 3
• Reg. 3(1)
• Reg. 201
• Reg. 31
• Reg. 11(5)

Holding

SEBI granted Saraogi Family Trust and Saraogi Trust exemption from the open offer requirements under Regulations 3(1) and 4 of the Takeover Regulations, 2011 for direct acquisition of 5,67,32,918 shares (28.10%) in Balrampur Chini Mills Limited from Mr. Vivek Saraogi, subject to conditions and valid for one year.

Full text

__________________________________________________________________________________________ Order in the matter of Balrampur Chini Mills Limited. Page 2 of 12 “Applicants”), in respect of the proposed direct acquisitions of shares and voting rights in the Target Company by the Acquirer Trusts.

__________________________________________________________________________________________ Order in the matter of Balrampur Chini Mills Limited. Page 3 of 12 in the Target Company, amounting to 30.76% of the total paid-up equity capital and voting rights in the Target Company.

__________________________________________________________________________________________ Order in the matter of Balrampur Chini Mills Limited. Page 4 of 12 (d) The Acquirer Trusts propose to acquire direct interest in the Target Company from Mr. Vivek Saraogi, the promoter of the Target Company. Pursuant to the proposed acquisition of shares and voting rights, the Acquirer Trusts shall directly have control over the Target Company.

Source: SecMarx — sebi:WTM/AB/CFD/02/2025-26. 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.