sebi:WTM/GM/EFD/43/2017-18
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Facts / Headnote
Violation of Regulation 3(1) held; noticees directed jointly and severally to make public announcement to acquire shares within 45 days with 10% p.a. interest from August 7, 2013.
Regulations
- Reg. 6
- Reg. 44
- Reg. 199
- Reg. 10
- Reg. 3(3)
- Reg. 6(2)
- Reg. 3(1)
- Reg. 201
- Reg. 32
Parties
- Ms. Sangita Sethi
- Mr. Sanjay B Sethi HUF
- Mr. Sanjay Sethi
- Sudhir B Sethi HUF
- Mr. Sudhir Sethi
- Mr. Babulal Sethi
- Babulal Sethi HUF
- Ms. Soniya Sethi
- Mr. Sohil Sethi
- Tara Sethi (Tara HUF)
Holding
The noticee-promoters violated Regulation 3(1) read with 3(3) by acquiring 93,600 shares (1.85%) on May 17, 2013 taking their holding from 23.24% to 25.09% without a prior public announcement; BDL could not be counted as PAC to avoid the threshold. The noticees were directed jointly and severally to make a public announcement within 45 days with 10% interest from August 7, 2013.
Full text
_____________________________________________________________________________ Order in the matter of Beryl Securities Ltd. Page 2 of 10 regulation 3(1) read with regulation 3(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as "Takeover Regulations, 2011”).
_____________________________________________________________________________ Order in the matter of Beryl Securities Ltd. Page 3 of 10
_____________________________________________________________________________ Order in the matter of Beryl Securities Ltd. Page 4 of 10 falling within the categories “A company, its holding company, subsidiary company and any company under the same management or control” shall be deemed to be PAC. BDL is a part of the promoters of Target Company, though inadvertently it was not shown as promoters in the shareholding pattern submitted by Target Company to BSE.
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Source: SecMarx — sebi:WTM/GM/EFD/43/2017-18. 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.