Shanti Ranjan Paul

SAT-appeal

• SPA for sale of 35.5% promoter holding at Rs 80/share with change in control/open offer treated as UPSI; failure to close trading window and insider trading/sharing UPSI.
  Appeal: Appeal Nos. 120,121,126,128,143 of 2014 disposed by common SAT order reserved 21/10/2016, decided 30/11/2016
• SPA for 35.5% shares at Rs.80 triggering change in management and 20% open offer treated as UPSI; failure to close trading window and disclose board decision enabled insider trading by promoters and others.
• Alleged SPA for 35.5% sale at Rs80 triggering open offer was UPSI; company failed to close trading window enabling insider trading/sharing.
  Appeal: Appeal Nos 120,121,126,128,143 of 2014, reserved 21/10/2016, decided 30/11/2016 by common order
• Negotiation of SPA for 35.5% sale at Rs.80 with change in control/open offer as UPSI; failure to close trading window and trading/sharing UPSI by promoters-insiders.
  Appeal: Five SAT Appeals No.120,121,126,128,143 of 2014 disposed by common order dated 30/11/2016 (reserved 21/10/2016)
• UPSI of Share Purchase Agreement for 35.5% sale at Rs.80/share with change in control/open offer; failure to close trading window and insider trading/sharing UPSI.
  Appeal: Appeal Nos. 120, 121, 126, 128, 143 of 2014 disposed by common SAT order, reserved 21/10/2016, decided 30/11/2016