DXC Technology Company

SAT-appeal

• Challenge to SEBI's rejection of a shareholder's request to revise the open-offer price from Rs. 55.22 to Rs. 79.58 per share with interest. The dispute concerned whether Regulation 8(3)(e) or Regulation 8(4) governed pricing and the relevant period for determining frequently traded shares.
  Appeal: Appeal No. 13 of 2021 decided by SAT on 26 July 2022; challenge was to SEBI WTM order dated 20 January 2020. Earlier Appeal No. was disposed of on 19 September 2019 directing a fresh representation.
• Alleged 18-month delay in public announcement after 24 May 2016 merger agreement triggering takeover and erroneous open offer price of Rs 55.22 instead of Rs 79.58 under unamended frequently traded shares definition.
  Appeal disposed with direction to appellant to file consolidated fresh representation annexing earlier emails · SEBI to decide representation by reasoned and speaking order after hearing all parties concerned
  Appeal: Appeal No. 183 of 2018 disposed on 19.09.2019 by remand to SEBI for fresh reasoned order; no further appeal mentioned
• SAT matter SATV-61BE63747E29AD4AC2C43745
  Appeal No. 169 of 2018 withdrawn with liberty to file a fresh appeal. · Open offer already commenced shall be completed.
  Appeal: Appeal No. 169 of 2018 was withdrawn and disposed of on 29 May 2018, with liberty to file a fresh appeal within two weeks.