sebi:WTM/GM/CFD/34/2018-19
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Facts / Headnote
Exemption granted from Regulation 3 of the Takeover Regulations subject to conditions; application disposed of
Provisions invoked
- s. 19
Regulations
- Reg. 3
- Reg. 31
- Reg. 11(5)
Holding
SEBI granted exemption to Bhogilal Family Trust from complying with Regulation 3 of the Takeover Regulations for the proposed acquisition of 49.55% shares of Batliboi Limited by way of gift from promoter Nirmal Bhogilal, subject to conditions including that only individual promoters or their immediate relatives/lineal descendants may be trustees and beneficiaries of the sub-trusts.
Full text
____________________________________________________________________________________________________ Order in the matter of Batliboi limited Page 2 of 14
____________________________________________________________________________________________________ Order in the matter of Batliboi limited Page 3 of 14 iv. The acquirer, has already acquired 45,00,000 equity shares (representing 15.6708 % of the total shareholding) of the Target Company from Shri Nirmal Bhogilal on 30th March 2017 after obtaining approval from SEBI vide
____________________________________________________________________________________________________ Order in the matter of Batliboi limited Page 4 of 14 i. Shri Kabir Nirmal Bhogilal (98%) ii. Ms. Kiara Kabir Bhogilal (1%) iii. Master Aaran Kabir Bhogilal (1%)
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Source: SecMarx — sebi:WTM/GM/CFD/34/2018-19. 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.