sebi:WTM/AB/CFD/04/2025-26

SEBI · SEBI · 2024-08-12 · 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

Provisions invoked

• s. 19

Regulations

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

Holding

SEBI granted SMIL Trust exemption from complying with Regulations 3(1) and 4 of the Takeover Regulations, 2011 for the proposed direct acquisition of 1,32,03,773 equity shares (46%) of Sharda Motor Industries Limited from promoter Ajay Relan, subject to conditions.

Full text

__________________________________________________________________________________________ Exemption Order in the matter of Sharda Motor Industries Limited. Page 2 of 10 a) The issued and paid-up share capital of the Target Company is Rs. 5,74,07,706/- divided into 2,87,03,853 equity shares of Rs. 2/- each. The shareholding pattern of the Target Company, as on the date of application, is as under: Shareholding in the Target Company Sr. No. Name No. of shares % shareholding Promoters and Promoter Group

__________________________________________________________________________________________ Exemption Order in the matter of Sharda Motor Industries Limited. Page 3 of 10 Mrs. Mala Relan Spouse and Promoter Mr. Aashim Relan Son and Promoter Beneficiaries Mr. Ajay Relan * Self and Promoter Mrs. Mala Relan Spouse and Promoter Mr. Aashim Relan Son and Promoter Lineal descendants of Mr. Aashim Relan Lineal descendants of son of Settlor

__________________________________________________________________________________________ Exemption Order in the matter of Sharda Motor Industries Limited. Page 4 of 10

Source: SecMarx — sebi:WTM/AB/CFD/04/2025-26. 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.