Arbutus Consultancy LLP

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Revise open offer price to Rs 6.30 per share instead of Rs 3.20 per public announcement
Pay simple interest at 10% p.a. from trigger dates to shareholders holding on transfer dates whose shares accepted

SAT-appeal

Whether inter-se promoter transfers before completion of three years from listing qualified for exemption from the open-offer obligation under Regulation 10(1)(a)(ii) of the 2011 SAST Regulations.
Appeal: Appeal Nos. 123 and 124 of 2016 before SAT; order dated 5 April 2017, with the text excerpt not stating the disposal outcome.
Inter-se promoter transfers of RattanIndia Infrastructure Ltd in July-Sept-Oct 2014 claimed exempt under Reg 10(1)(a)(ii) but SEBI held 3-year listing disclosure not met, triggering higher open offer price.
Revise open offer price to Rs 6.30 per share instead of Rs 3.20 per public announcement · Pay simple interest at 10% p.a. from trigger dates to shareholders holding on transfer dates whose shares accepted

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Source: SecMarx — Arbutus Consultancy LLP. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.