Karvy Financial Services Limited

SAT-appeal

• Failure to make a public announcement of an open offer after acquiring 55.56% of Regaliaa Realty Limited through invocation of pledged shares, and seeking exemption only after acquisition.
  Appeal No. 479 of 2016 dismissed, upholding SEBI WTM direction to make an open offer. · Appeal No. 349 of 2017 dismissed, upholding return of the post-acquisition exemption application.
  Appeal: Appeal Nos. 479 of 2016 and 349 of 2017 decided together and dismissed by SAT on 26 April 2018; Misc. Application No. 317 of 2017 disposed after condoning 409 days' delay.
• SAT matter SATV-2289CE5D98C0A30EBEDA0996
  Registry directed to correct the inadvertent spelling error in the order dated 26 April 2018
  Appeal: Appeal Nos. 479 of 2016 and 349 of 2017; order dated 27 April 2018 addressed an inadvertent spelling error in the order dated 26 April 2018. Misc. Application No. 317 of 2017 also listed.
• Failure to make a public announcement of an open offer after acquiring 55.56% of Regaliaa Realty Limited by invoking pledged shares, and seeking exemption only after acquisition.
  Appeal No. 479 of 2016 dismissed; WTM direction to make a public announcement of an open offer upheld. · Appeal No. 349 of 2017 dismissed; SEBI’s return of the post-facto exemption application upheld.
  Appeal: Appeal Nos. 479 of 2016 and 349 of 2017 decided together and dismissed by SAT on 26 April 2018; Misc. Application No. 317 of 2017 disposed of after condoning 409 days’ delay.