R. V. Shekar

2 matters before the Securities Appellate Tribunal

SAT-appeal

Promoter-acquirers holding 55%-75% allegedly acquired additional shares exceeding 5% voting rights and/or via bulk deals without making open offer under Regulation 11(2) SAST 1997.
WTM held appellants violated Regulation 11(2) SAST 1997 and directed 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 on 02.05.2018 decided on 28.05.2018 by common order
Acquirers holding 55-75% acquired additional shares exceeding 5% and/or via bulk deal without public announcement of open offer, violating Regulation 11(2) second proviso.
WTM held appellants guilty of violating Regulation 11(2) and directed 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 heard together; Order Reserved 02.05.2018, Date of Decision 28.05.2018 by common order

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Source: SecMarx — R. V. Shekar. 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.