sebi:WTM/GM/EFD/42/2018-19
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee directed to make public announcement to acquire shares of Patels Airtemp (India) Limited within 45 days with 10% per annum interest from date of liability till payment
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 3
- Reg. 10
- Reg. 8
- Reg. 44
- Reg. 2
- Reg. 29(2)
- Reg. 3(1)
- Reg. 2(1)(q)
- Reg. 3(3)
- Reg. 32
- Reg. 3(2)
- Reg. 2(1)(q)(2)
- Reg. 10(1)(a)
- Reg. 10(5)
- Reg. 2(1)(q)(1)
Parties
- TFEPL
Holding
The Noticee's acquisition of 15,000 shares on December 3, 2014 increasing its individual holding from 24.74% to 25.04% triggered regulation 3(1) read with 3(3) and was not exempt under regulation 10(1)(a)(ii), and the Noticee must make an open offer with interest.
Full text
___________________________________________________________________________ Order in the matter of Patels Airtemp (India) Limited Page 2 of 16
___________________________________________________________________________ Order in the matter of Patels Airtemp (India) Limited Page 3 of 16
___________________________________________________________________________ Order in the matter of Patels Airtemp (India) Limited Page 4 of 16
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/GM/EFD/42/2018-19. 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.