Manori Properties Private Limited

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

WTM directed appellants to make public announcement of open offer under 1997 Regulations within time stipulated in respective orders

SAT-appeal

Promoters holding 55-75% acquired additional shares exceeding 5% and via bulk deals without making open offer under Regulation 11(2).
WTM held violation of Regulation 11(2) and second proviso to Regulation 11(2) · Directed appellants to make public announcement of open offer per 1997 Regulations within stipulated time
Appeal: Appeal Nos. 265/2015, 489/2015, 128/2016, 130/2016, 157/2017, 351/2017; Reserved 02.05.2018, Decided 28.05.2018 by common decision
Acquirers holding 55%-75% allegedly acquired additional shares exceeding 5% cap and via bulk deals without open offer, violating Regulation 11(2) second proviso.
WTM directed appellants to make public announcement of open offer under 1997 Regulations within time stipulated in respective orders
Appeal: Appeal Nos. 265/2015, 489/2015, 128/2016, 130/2016, 157/2017, 351/2017 reserved on 02.05.2018, decided on 28.05.2018 by common order

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Source: SecMarx — Manori Properties Private Limited. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.