sebi:WTM/KCV/CFD/03/2026-27
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Facts / Headnote
Exemption granted to IVG Trust from Regulation 3 and Regulation 5 read with Regulation 4 of SAST Regulations, 2011 for proposed direct and indirect acquisitions in Vadilal Industries Limited; exemption granted to MPG Family Trust from Regulation 3(2) and Regulation 4 of SAST Regulations, 2011 for proposed direct acquisition in Bharat Rasayan Limited. Applications disposed of.
Provisions invoked
- s. 19
- s. 11(1)
- s. 11(2)
Regulations
- Reg. 4
- Reg. 3
- Reg. 5
- Reg. 2(1)(q)
- Reg. 201
- Reg. 3(2)
- Reg. 31
- Reg. 11(5)
Holding
SEBI granted exemption to IVG Trust from complying with Regulation 3 and Regulation 5 read with Regulation 4 of the SAST Regulations, 2011 for proposed direct and indirect acquisitions in Vadilal Industries Limited, and to MPG Family Trust from Regulation 3(2) and Regulation 4 for proposed direct acquisition in Bharat Rasayan Limited, subject to conditions.
Full text
__________________________________________________________________________________________ Exemption Order in the matter of Bharat Rasayan Limited. Page 1 of 11 WTM/KCV/CFD/03/2026-27
__________________________________________________________________________________________ Exemption Order in the matter of Bharat Rasayan Limited. Page 2 of 11 Details of the proposed acquisition:
__________________________________________________________________________________________ Exemption Order in the matter of Vadilal Industries Limited. Page 3 of 22 Sr. No Name No. of Shares % shareholding
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Source: SecMarx — sebi:WTM/KCV/CFD/03/2026-27. 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.