Bikramjit Ahluwalia

SAT-appeal

• Acquisition of shares exceeding the applicable 5% threshold by acquirers and persons acting in concert without making the required public announcement under the SAST Regulations.
  Common order disposing of 14 appeals; operative appellate outcome is not included in the supplied text.
  Appeal: Appeal Nos. 470, 471, 472, 474-479, 481-485 of 2015 heard together; final disposal portion is absent from the supplied text.
• Acquisition of shares exceeding 5% creeping limit by persons holding 15% to 75% without making public announcement under Reg 11 read with Reg 14 of SAST Regulations, 1997
  Appeal: 14 appeals Nos. 470, 471, 472, 474, 475, 476, 477, 478, 479, 481, 482, 483, 484, 485 of 2015 heard together and disposed by common SAT order dated 14.10.2016
• Promoter group holding 66.15% acquired further 4.79% (3,45,000 shares) during July-Aug 2010 without public announcement, violating Reg 11(2) r/w 14(1) SAST 1997.
  Rs. 2,00,00,000 penalty under Sec 15H(ii) jointly and severally per impugned order dated 25.02.2015
  Appeal: Appeal Nos. 484 and 485 of 2015 heard on 05.10.2017, decided on 20.11.2017
• SAT matter SATV-6676A330C3BCB85E7EBF5091
  Inadvertent error in order dated October 14, 2016 corrected to record disposal of Appeal No. 473 of 2015 instead of Appeal No. 485 of 2015 · Praecipe filed on behalf of SEBI disposed of accordingly
  Appeal: Appeal No. 473 of 2015 - correction order passed on 21.06.2017 correcting inadvertent error in order dated 14.10.2016
• SAT matter SATV-759D5380E5680C5B8B09A7D1
  Appellants permitted to withdraw appeals with liberty to file fresh appeals · All 7 appeals disposed of with no order as to costs
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 of 2015 and 289 of 2015 disposed as withdrawn with liberty to refile vide SAT order dated 9/9/2015
• SAT matter SATV-8803ED048A6E99A0DEE225DC
  Appellants permitted to withdraw appeals with liberty to file fresh appeals · All 7 appeals disposed of with no order as to costs
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 and 289 of 2015 withdrawn with liberty and disposed of on 9 September 2015
• Creeping acquisition exceeding 5% in 12 months by 15%-75% holders without public announcement under Reg 11(1)/11(2) r/w 14(1) SAST Regulations, 1997.
  Appeal: 14 appeals (Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015) bunched and disposed by common SAT order dated 14.10.2016
• SAT matter SATV-E06BABC8DBED96E8C65287A7
  Permitted withdrawal of all 7 appeals with liberty to file fresh appeals within four weeks from 9/9/2015 · All 7 appeals disposed of with no order as to costs
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 and 289 of 2015 withdrawn with liberty and disposed on 9/9/2015 with no costs
• SAT matter SATV-DF9563791EE16EC6697B087E
  Appellants permitted to withdraw appeals with liberty to file fresh appeals · All 7 appeals disposed of with no order as to costs
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 and 289 of 2015 withdrawn with liberty to refile; disposed on 9/9/2015 with no costs
• SAT matter SATV-EEC5CC5E60781D8C0E044CF1
  Permitted counsel for appellants to withdraw all 7 appeals · Granted liberty to file fresh appeals within four weeks from 9 September 2015
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 and 289 of 2015 withdrawn with liberty to file fresh appeals; disposed of on 9/9/2015 with no order as to costs
• Creeping acquisition exceeding 5% in 12 months by holders of 15%-75% and 55%-75% without public announcement under SAST Reg 11 read with Reg 14.
• Creeping acquisition exceeding 5% in 12 months by persons holding 15%-75% without public announcement under Reg 11(1)/11(2) r/w 14(1) SAST Regulations, 1997.
  AO order dated 30.09.2014 imposed Rs 15 lakh for Reg 11(1)/14(1) violation (2000-2001) · AO order dated 30.09.2014 imposed Rs 15 lakh for Reg 11(2)/14(1) violation (15.09.2005)
  Appeal: 14 appeals No. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 disposed by common SAT order dated 14.10.2016
• Acquisitions exceeding 5% in 12 months by holders of 15%-75% and 55%-75% without public announcement under SAST Reg 11(1)/11(2) r/w 14(1).
  14 appeals heard together and disposed by common SAT order dated 14.10.2016; operative relief truncated in excerpt
  Appeal: Appeal Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 heard together and disposed by common SAT order dated 14.10.2016
• Creeping acquisition exceeding 5% in 12 months by 15%+ and 55%+ holders with persons acting in concert without public announcement under Reg 11 r/w 14 of SAST Regulations.
  Appeal: 14 appeals Nos. 470, 471, 472, 474, 475, 476, 477, 478, 479, 481, 482, 483, 484, 485 of 2015 heard together and disposed by common SAT order dated 14.10.2016
• Creeping acquisition beyond 5% in 12 months by 15%+/55%+ holders with PACs without public announcement under Reg 11 read with Reg 14 of SAST Regulations, 1997
• Promoters holding 55-75% acquired 4.79% (3,45,000 shares) in Jul-Aug 2010 without public announcement after prior 5.38% creeping acquisition in Mar 2010, violating Reg 11(2) r/w 14(1).
  Impugned SEBI order dated 25.02.2015 imposed Rs 2,00,00,000 penalty jointly and severally for Reg 11(2) r/w 14(1) violation
  Appeal: Appeal Nos. 484 of 2015 and 485 of 2015 heard on 05.10.2017, decided on 20.11.2017
• Acquisition of >5% shares/voting rights in 12 months by 15%-75% holders and 55%-75% holders without public announcement under Reg 11(1)/11(2) r/w 14(1) SAST Regulations, 1997.
  Appeal: 14 appeals Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 heard together for common question, disposed by common SAT order dated 14.10.2016
• SAT matter SATV-81CB87B741098AA25AF03634
  Appeals permitted to be withdrawn with liberty to file fresh appeals · All 7 appeals disposed of with no order as to costs
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 and 289 of 2015 disposed of as withdrawn on 9 September 2015 with liberty to refile
• SAT matter SATV-A2598C635A24F2BA0D2A61A4
  Permitted withdrawal of appeals with liberty to file fresh appeals · All 7 appeals disposed of with no order as to costs
  Appeal: Appeal Nos. 7, 8, 9, 10, 11, 12 and 289 of 2015 disposed of as withdrawn on 9 September 2015 with liberty to refile
• Creeping acquisition exceeding 5% in 12 months by 15%+ holders without public announcement under Reg 11(1)/11(2) read with Reg 14(1) SAST Regulations, 1997.
  Appeal: 14 appeals Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 disposed by common SAT order dated 14.10.2016
• Creeping acquisitions exceeding 5% in 12 months by holders of 15%-75% under Reg 11(1) and 55%-75% under Reg 11(2) without public announcement under Reg 14(1) of SAST Regulations, 1997.
  14 appeals disposed by common SAT order dated 14.10.2016; impugned adjudication penalties were Rs 15 lakh, Rs 15 lakh and Rs 20 lakh
  Appeal: Appeal Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 disposed by common SAT order dated 14.10.2016
• Creeping acquisition beyond 5% in 12 months by 15%-75% holders without public announcement under Reg 11(1)/11(2) r/w 14(1) SAST Regulations, 1997
  14 appeals heard together and disposed by common SAT order dated 14.10.2016 (operative result truncated in excerpt)
  Appeal: 14 Appeals Nos. 470, 471, 472, 474, 475, 476, 477, 478, 479, 481, 482, 483, 484, 485 of 2015 heard together, SAT order dated 14.10.2016
• Creeping acquisition exceeding 5% in 12 months by persons holding 15%-75% without public announcement under Reg 11 read with Reg 14 SAST Regulations, 1997.
  Appeal: Appeal Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 disposed by common SAT order dated 14.10.2016
• Acquisition of >5% shares in 12 months by 15%-75% holders (and 55%-75% holders) without public announcement under Reg 11(1)/11(2) r/w Reg 14(1) SAST Regulations, 1997.
  Appeal: 14 appeals Nos. 470,471,472,474,475,476,477,478,479,481,482,483,484,485 of 2015 taken together and disposed by common SAT order dated 14.10.2016