sebi:WTM/MPB/EFD-1-DRA-3/15/2019
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
SCN disposed of with directions: Noticees jointly and severally to make public announcement to acquire shares within 45 days, pay consideration with 10% interest from June 22, 2009, and restrained from accessing securities market until compliance.
Provisions invoked
- s. 19
- s. 11
- s. 2(1)
- s. 55(5)
Regulations
- Reg. 13
- Reg. 11
- Reg. 199
- Reg. 10
- Reg. 12
- Reg. 14
- Reg. 14(1)
- Reg. 44
- Reg. 45
- Reg. 11(1)
- Reg. 2(h)
- Reg. 11(2)
- Reg. 35
- Reg. 32
Holding
The promoter group of Gremach Infrastructure Equipments and Projects Limited acquired 6.87% of shares on a gross basis during financial year 2009-2010, exceeding the 5% creeping acquisition limit under Regulation 11(1) of the Takeover Regulations, 1997, without making a public announcement, and all promoters are liable as persons acting in concert (PACs) to make an open offer.
Full text
Order in the matter of Gremach Infrastructure Equipments and Projects Limited (presently known as Sancia Global Infraprojects Ltd.)
Order in the matter of Gremach Infrastructure Equipments and Projects Limited (presently known as Sancia Global Infraprojects Ltd.)
Order in the matter of Gremach Infrastructure Equipments and Projects Limited (presently known as Sancia Global Infraprojects Ltd.)
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/MPB/EFD-1-DRA-3/15/2019. 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.