sebi:WTM/PS/148/CFD/DCR-II/FEB/2016
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Facts / Headnote
Exemption granted to the Acquirer from complying with regulations 5 read with 3(1) and 3(2) of the Takeover Regulations; application dated August 20, 2014 disposed of.
Provisions invoked
- s. 19
Regulations
- Reg. 10
- Reg. 5
- Reg. 3(1)
- Reg. 3(3)
- Reg. 10(1)(d)
- Reg. 11(5)
Holding
SEBI granted exemption to Hasham Investment and Trading Company Private Limited (the Acquirer) from the obligation to make an open offer under regulations 5 read with 3(1) and 3(2) of the Takeover Regulations in respect of the proposed acquisition of shares of the Target Company pursuant to a scheme of amalgamation of three NBFCs into the Acquirer.
Full text
Page 2 of 8 Azim Premji Trustee Company Private Limited is in turn substantially wholly owned by Mr. Azim Hasham Premji with one share being held by Smt. Yasmeen A. Premji.
Page 3 of 8 c. Napean, Vidya and Regal are categorized as non-banking finance companies (‘NBFCs’) holding a valid certificate of registration issued by Reserve Bank of India (‘RBI’).
Page 4 of 8 interest in the equity shares of Target Company and the interest in the partnership firms (Hasham Traders, Prazim Traders and Zash Traders) and liabilities of these entities shall be transferred to Acquirer.
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Source: SecMarx — sebi:WTM/PS/148/CFD/DCR-II/FEB/2016. 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.