VLS Finance Limited

SAT-appeal

• Challenge to SEBI's accepted fair-price determination and alleged failure to direct payment of interest on delayed payments under the open offer.
  Appeals disposed of with liberty to appellants to submit representations to SEBI on interest payable for delayed payments. · SEBI to appoint an officer to decide the issue after hearing the parties.
  Appeal: Appeal Nos. 338 and 354 of 2020 disposed of on 15 October 2020; earlier Appeal No. 149 of 2020 was dismissed on 17 July 2020.
• Alleged failure by SEBI to direct acquirer Aurora UK Bidco to pay interest for delay in open offer payment after fair price revision.
  Appeals disposed with direction to appellants to file representation on delayed-payment interest on or before 22 Oct 2020 · Contestants may file objection within a week thereafter; SEBI officer to decide after hearing
  Appeal: Appeal Nos. 338 and 354 of 2020 disposed on 15.10.2020; Misc. Applications 345, 384, 385 of 2020 disposed