Mr. Bhavook Tripathi

SAT-appeal

• Alleged pre-understanding/agreement between seller and acquirer including investor Manmohan Passi to sell shares on public announcement date triggering 100% escrow under Reg 22(2)
  SEBI to make available declaration and other material relied on for para 3 Annexure I observations to appellant · Board to issue comments/observations afresh after considering appellant's reply
  Appeal: Appeal No. 172 of 2012 disposed of on 07.09.2012 with direction for exchange of material and fresh comments
• Dispute over valuation of infrequently traded shares of Federal-Mogul Goetz (India) Ltd for 25.02% open offer: acquirer offer Rs.400 vs SEBI direction Rs.608.46 based on Haribhakti valuation Rs.600.
  All present appeals arising from SEBI order dated 4 July 2019 held liable to be dismissed
• Dispute over valuation of shares for the open offer triggered by acquisition of control/shareholding in Federal-Mogul Goetz (India) Ltd.; no misconduct or securities-law contravention was adjudicated.
  Appeal No.352 of 2019, Appeal No.359 of 2019 and Appeal Lodging Nos.458 and 459 of 2019 dismissed. · SEBI’s remand decision dated 4 July 2019 revising the open-offer price to Rs.608.46 per share upheld.
  Appeal: SAT disposed of Appeal No.352 of 2019, Appeal No.359 of 2019, Appeal Lodging Nos.458 and 459 of 2019 and Misc. Application No.418 of 2019 on 7 November 2019; all appeals dismissed.