sebi:WTM/RKA/CFD-DCR/05/2015

SEBI · SEBI · 2012-12-10 · Rajeev Kumar Agarwal, Whole Time Member

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Facts / Headnote

Directions issued requiring Noticees to make a public announcement to acquire shares of the Target Company within 45 days and pay interest at 10% per annum from December 19, 2012 to shareholders tendering in the open offer.

Provisions invoked

s. 77A
s. 87
s. 89
s. 92
s. 87(1)
s. 150
s. 181
s. 179
s. 177
s. 179(1)

Regulations

Reg. 13(2)
Reg. 11
Reg. 3
Reg. 10
Reg. 8
Reg. 44
Reg. 29(2)
Reg. 3(1)
Reg. 24
Reg. 30
Reg. 32
Reg. 10(4)(c)

Parties

Mr. Radhey Shyam Lahoti
Mr. Ram Awatar Lahoti
Mr. Sitaram Lahoti
M/s. Focus Investments & Traders Private Limited
M/s. Lahoti Exports Private Limited
M/s Quality Products Marketing Private Limited

Holding

The Noticees, acting in concert, breached regulation 3(1) of the Takeover Regulations, 2011 by acquiring shares on September 26, 2012 that took their collective voting rights from 21.23% to 26.41% without making a public announcement. SEBI directed them to make a public announcement within 45 days and pay interest at 10% per annum to tendering shareholders.

Full text

______________________________________________________________________________ In the matter of Servotech Engineering Industries Limited

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Source: SecMarx — sebi:WTM/RKA/CFD-DCR/05/2015. 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.