sebi:WTM/RKA/CFD-DCR/158/2014
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Show cause notice dated April 3, 2014 disposed of without issuing any direction
Regulations
- Reg. 4
- Reg. 13
- Reg. 11
- Reg. 3
- Reg. 2(1)
- Reg. 29(1)
- Reg. 10(1)
- Reg. 29(2)
- Reg. 3(2)
- Reg. 2(1)(t)
- Reg. 32
- Reg. 2(1)(q)(2)
- Reg. 10(1)(a)
- Reg. 2
- Reg. 10(7)
Parties
- SAL Care Private Limited
- Shah Alloys Limited
Holding
The Whole Time Member found that the acquirer and Shah Alloys Ltd. were persons acting in concert and that the acquisitions violated regulations 3(2) and 4 of the Takeover Regulations, but declined to issue any direction finding the breach to be technical and minor without blameworthy conduct.
Full text
________________________________________________________________________ Order in the matter of S.A.L. Steel Limited Page 2 of 8
________________________________________________________________________ Order in the matter of S.A.L. Steel Limited Page 3 of 8
________________________________________________________________________ Order in the matter of S.A.L. Steel Limited Page 4 of 8
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Source: SecMarx — sebi:WTM/RKA/CFD-DCR/158/2014. 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.