sebi:WTM/GM/CFD/85/2018-19
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Facts / Headnote
Noticees directed, jointly and severally, to make a public announcement to acquire shares under the Takeover Regulations
Provisions invoked
- s. 11B
- s. 24
- s. 81
- s. 11
- s. 15H
Regulations
- Reg. 11
- Reg. 3
- Reg. 199
- Reg. 10
- Reg. 44
- Reg. 11(1)
- Reg. 3(1)(c)(i)
- Reg. 3(1)(c)
- Reg. 23(1)(b)
Parties
- Pallor Trading
Holding
Preferential allottees failed to secure the automatic exemption under regulation 3(1)(c) due to inadequate disclosures in the December 2, 1997 general meeting notice and are therefore jointly and severally liable to make a public announcement to acquire shares.
Full text
_________________________________________________________________________________________ Order in the matter of Saurashtra Cement Ltd. Page 2 of 30
_________________________________________________________________________________________ Order in the matter of Saurashtra Cement Ltd. Page 3 of 30
_________________________________________________________________________________________ Order in the matter of Saurashtra Cement Ltd. Page 4 of 30
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Source: SecMarx — sebi:WTM/GM/CFD/85/2018-19. 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.