sebi:WTM/GM/CFD/DCR1/39/2020-21
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Facts / Headnote
Exemption granted
Provisions invoked
- s. 19
- s. 11(1)
- s. 11(2)
Regulations
- Reg. 201
- Reg. 3(2)
- Reg. 31
- Reg. 11(5)
Holding
Exemption was granted to Cellular Family Trust from complying with Regulation 3(2) of the Takeover Regulations 2011 for the proposed acquisition of 9.94% shares in Astec Life Sciences Limited from Mr. Ashok Hiremath, subject to conditions.
Full text
________________________________________________________________________________________________ Order in the matter of Astec Life Sciences Limited Page 2 of 12 of shares in the Target Company was received by SEBI from Mr. Ashok Hiremath and Ms. Chitra Ashok Hiremath (Trustees) for the Cellular Family Trust (“Acquirer Trust / Proposed Acquirer”).
________________________________________________________________________________________________ Order in the matter of Astec Life Sciences Limited Page 3 of 12
________________________________________________________________________________________________ Order in the matter of Astec Life Sciences Limited Page 4 of 12 TABLE II: DETAILS OF ACQUIRER TRUST Settlor Trustees Beneficiaries
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Source: SecMarx — sebi:WTM/GM/CFD/DCR1/39/2020-21. 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.