Vijay N. Bhatt

SAT-appeal

• Alleged suppression of material information regarding the background, experience and alleged control of the acquirer in the 2008 open-offer documents, allegedly violating takeover disclosure obligations.
  Appeal Nos. 354 to 357 of 2022 dismissed · WTM order dated March 31, 2022 rejecting the complaints effectively upheld
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 dismissed by SAT on November 7, 2023; no order as to costs.
• SAT matter SATV-19E77DB6FC8D63183A33DAAD
  Three weeks' time granted to the appellants to file rejoinder · Matters listed for hearing on 28 September 2022
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 were pending; rejoinder permitted and matters listed on 28 September 2022.
• SAT matter SATV-22E19C72EAC7D54B11DCECD9
  Appeals adjourned on the request of the appellants' counsel · Matters listed for 3 November 2023
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 were adjourned on 22 September 2023 and listed for 3 November 2023; no disposal is recorded.
• Alleged suppression of material information regarding the background and control of the acquirer in the 2008 open-offer documents, allegedly violating takeover disclosure obligations.
  All four appeals dismissed · No direction for a fresh open offer
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 dismissed by SAT on 7 November 2023.
• Alleged suppression of material facts concerning the identity and background of the persons controlling the acquirer in the 2008 open-offer documents, allegedly violating takeover disclosure obligations.
  All four appeals dismissed. · No order as to costs.
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 dismissed by SAT on 7 November 2023.
• Acquirer India Star and merchant banker allegedly suppressed material facts in 2008 open offer documents for Global Offshore Services Ltd., including ultimate control by Sycamore and background of director Ravi Pratap Singh.
  Appeal Nos. 354, 355, 356 and 357 of 2022 dismissed · No direction for fresh open offer; no order as to costs
  Appeal: SEBI's Civil Appeal against SAT order dated 02.02.2018 dismissed by Supreme Court judgment dated 01.12.2021
• SAT matter SATV-7FB0C8B906EC59A57AA56A9C
  Order reserved after hearing counsel for parties
• SAT matter SATV-45B09FC8751A76DF1C3145B5
  Appeals adjourned at the respondent's request. · List the appeals on 7 August 2023. Parties may act on the digitally signed order.
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 were adjourned on 14 July 2023 and listed for 7 August 2023; no disposal on merits stated.
• Acquirer suppressed material facts in open offer; letter of offer did not present true and fair representation of persons having control over acquirer, violating Takeover Regulations, 1997.
  Impugned SEBI communications rejecting complaints set aside · Complaints restored for fresh decision on merits uninfluenced by WTM decision dated 21.11.2014
  Appeal: Appeal Nos. 2, 11, 44 and 128 of 2017 disposed of by SAT order dated 02.02.2018 with no order as to costs
• Acquirer violated SEBI Act and framed Regulations; Tribunal earlier held mere reprimand was not in investors' interest
  Connected with Appeal No. 354 of 2022 · Respondent to file reply within three weeks from 06.07.2022
  Appeal: Appeal No. 356 of 2022 pending; connected with Appeal No. 354 of 2022; listed for admission and final disposal on August 25, 2022
• SAT matter SATV-EF0CA7EC5E8705B59C400D11
  Order reserved after hearing learned counsel for parties
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 heard on 03.11.2023; order reserved, not disposed
• Suppression of material facts in the letter of offer and failure to make a true and fair representation of persons having control over the acquirer, allegedly violating the Takeover Regulations, 1997.
  Impugned SEBI communications rejecting the complaints were set aside. · Complaints were restored for fresh decision on merits by a competent SEBI officer.
  Appeal: Appeal Nos. 2, 11, 44 and 128 of 2017 disposed of by SAT on 2 February 2018; no order as to costs.
• Acquirer's letter of offer suppressed identity of persons in control, not true and fair; investors claim they would have tendered in open offer if disclosed.
  Set aside SEBI communications rejecting complaints of appellants · Restore complaints for fresh decision on merits uninfluenced by WTM order dated 21.11.2014
  Appeal: Appeal Nos. 2, 11, 44 and 128 of 2017 disposed of on 02.02.2018 with no order as to costs
• SAT matter SATV-B6A371992B50CC4817EE869C
  Adjourned on account of non-availability of the Bench · List on 10th May, 2023
  Appeal: Appeal Nos. 354, 355, 356 and 357 of 2022 pending before SAT; adjourned on 30.3.2023 to 10 May 2023 with no disposal
• Acquirer allegedly suppressed material facts on persons in control in letter of offer for 20% open offer, violating Takeover Regulations 1997; WTM held disclosure not true and fair.
  Set aside impugned SEBI communications rejecting complaints · Restore complaints for fresh decision on merits without being influenced by WTM decision dated 21.11.2014
  Appeal: Appeal Nos. 2, 11, 44 and 128 of 2017 disposed of on 02.02.2018 with no order as to costs