Aurora UK Bidco Limited

SAT-appeal

• Challenge to SEBI's accepted fair-price determination and alleged failure to direct payment of interest on delayed payments under the open offer.
  Appeals disposed of with liberty to appellants to submit representations to SEBI on interest payable for delayed payments. · SEBI to appoint an officer to decide the issue after hearing the parties.
  Appeal: Appeal Nos. 338 and 354 of 2020 disposed of on 15 October 2020; earlier Appeal No. 149 of 2020 was dismissed on 17 July 2020.
• SAT matter SATV-2D6D8946627F0D2C14F98549
  Review Application No. 77 of 2022 dismissed · Order dated 1 November 2022 not reviewed
  Appeal: Review Application No. 77 of 2022 in Appeal No. 743 of 2022 dismissed on 20 January 2023; review sought against SAT order dated 1 November 2022
• Claim for interest for alleged delay in payment of revised open offer consideration to shareholders of Accelya Solutions India Ltd
  Appeal dismissed summarily - appellant not entitled to interest · Misc. Application No. 1242 of 2022 disposed of
  Appeal: Appeal No. 743 of 2022 dismissed summarily on 01.11.2022; prior Sept/Oct 2020 appeals disposed by SAT order dated 15.10.2020
• Dispute on fair offer price for infrequently traded shares of Accelya Solutions India Ltd in mandatory open offer; SEBI suspected acquirer-determined Rs 944.19 price did not truly represent fair value.
  Appeal No.149 of 2020 liable to be dismissed · SEBI decision to appoint independent valuer M/s Varma & Varma under Regulation 8(16) at acquirer cost upheld as quasi-judicial and appealable
• Pure question of law regarding interpretation of Regulation 8(16) of SAST Regulations, 2011
  Heard appeal finally without calling for reply as pure question of law involved · SEBI directed to scan office notes and circulate to parties and Tribunal within two days
  Appeal: Misc. Application No. 172 of 2020 (Urgency Application) and Appeal Lodging No. 162 of 2020 heard finally on 08.07.2020; order reserved