sebi:WTM/ASB/CFD/7/2024-25
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Facts / Headnote
Exemption granted; application disposed of
Provisions invoked
- s. 19
- s. 11(1)
- s. 11(2)
Regulations
- Reg. 4
- Reg. 3
- Reg. 5
- Reg. 3(2)
- Reg. 31
- Reg. 11(5)
Holding
SEBI granted exemption to Shakti Sons Trust from complying with regulations 3 and 4 read with regulation 5 of the Takeover Regulations, 2011 for the proposed indirect acquisition in Shakti Pumps (India) Limited via the transactions in the Application.
Full text
Exemption Order in the matter of Shakti Pumps (India) Limited Page 2 of 11 3. The proposed acquirer vide its Application has submitted the following: (a) The paid up equity share capital of the Target Company is Rs. 20,03,51,000/- divided into 2,00,35,100 equity shares of Rs. 10/- each;
Exemption Order in the matter of Shakti Pumps (India) Limited Page 3 of 11 M/s. Shakti Future Trust Son’s Future Trust 15,00,000 7.49% M/s. Shakti Irrigation India Limited Promoter Group Entity 932,000 4.65% M/s. Vintex Tools Private Limited Promoter Group Entity 805,000 4.02% Total 1,03,33,300 51.58%
Exemption Order in the matter of Shakti Pumps (India) Limited Page 4 of 11 (g) The proposed acquisition involves five transactions as follows: Name of the Company No. of Shares proposed to be transferred % shareholding proposed to be transferred Present Transferor Proposed Transferee Vintex Tools Private Limited 16,18,422 75% Mr. Dinesh Patidar Shakti Sons Trust Shakti Irrigation India Limited 10,000 0.3064% Mr. Dinesh Patidar Shakti Sons Trust Shakti Irrigation India Limited 55,000 1.6854% Mr. Dinesh Patidar HUF Shakti Sons Trust Shakti Construction & Developers Private limited (I) 30,12,400 99.95% Mr. Dinesh Patidar Shakti Sons Trust Roulex Investment & Finance Private Limited (II) 19,15,055 99.95% Mr. Dinesh Patidar Shakti Sons Trust
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Source: SecMarx — sebi:WTM/ASB/CFD/7/2024-25. 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.