S. K. Jain

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

WTM direction to promoters to make public announcement of open offer for FIRL confirmed
AO penalties confirmed

SAT-appeal

Promoter group acquisitions and disposals exceeding 5% in FY 2013-14 triggered Regulation 3(2) SAST twice without making open offer.
Both Appeal No. 457 of 2020 and 574 of 2020 dismissed without order as to costs
Appeal: Appeal Nos. 457 of 2020 and 574 of 2020 heard 07.06.2022, decided 18.07.2022 - both dismissed
Promoter group of FIRL acquired and disposed >5% voting rights in FY 2013-14 triggering Regulation 3(2) open-offer obligations twice without making public announcement.
Appeal No. 457 of 2020 and Appeal No. 574 of 2020 dismissed without costs · WTM direction to promoters to make public announcement of open offer for FIRL confirmed
Appeal: Appeal Nos. 457 of 2020 and 574 of 2020 heard 07.06.2022, decided 18.07.2022 - both dismissed

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Source: SecMarx — S. K. Jain. 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.