sebi:WTM/GM/CFD/12A/2019-20
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Facts / Headnote
Compliance confirmed with continuing condition on director appointments
Holding
The Acquirer was confirmed to continue to be in compliance with the Order despite the change in shareholding in Lakshmi Machine Works Limited. The Acquirer must ensure directors of LTE and LCC remain limited to individual Promoters or their immediate relatives or lineal descendants to preserve unchanged control.
Full text
_________________________________________________________________________________________ Addendum in the matter of Lakshmi Machine Works Limited
Page 2 of 2 4. It is confirmed that the Acquirer continues to be in compliance with the Order despite the aforementioned change in shareholding in the Target Company.
5. The Acquirer shall at all points in time, ensure that Directors appointed in the Promoter Companies, viz. LTE and LCC, are either the individual Promoters or their immediate relatives or lineal descendants so that the control in the Target Company continues without any change.
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Source: SecMarx — sebi:WTM/GM/CFD/12A/2019-20. 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.