Mrs. Rekha Bhanot

SAT-appeal

• Promoters/acquirers increased holding from 25.08% to 33.93% by acquiring 8.85% in FY 2005-06 exceeding 5% threshold without public announcement/open offer under Reg 11(1) SAST 1997.
  Delay condoned; Misc. Applications 337/2018, 360/2018, 525/2019 allowed · WTM common order dated 2 August 2018 directing open offer held unsustainable
• In FY 2005-06 promoters/acquirers collectively acquired 8.85% (25.08% to 33.93%) crossing 5% threshold and failed to make public announcement/open offer under Regulation 11(1) SAST 1997.
  Delay condoned; Misc. Application Nos. 337/2018, 360/2018 and 525/2019 allowed · Appeals allowed; WTM common order dated 2 August 2018 directing open offer cannot be sustained / set aside
  Appeal: Appeal Nos. 396 of 2018, 405 of 2018 and 562 of 2019 allowed by SAT order reserved 28.06.2021, decided 09.07.2021
• Promoters/acquirers collectively acquired 8.85% in FY 2005-06 raising holding from 25.08% to 33.93%, crossing 5% threshold without public announcement/open offer under Regulation 11(1) SAST 1997.
  SAT held impugned WTM order cannot be sustained and set aside direction to make open offer · Misc. Applications 337/2018, 360/2018, 525/2019 allowed condoning delay in filing appeals