with regulation 14(1) of the
SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,
1997 ("Takeover Regulations, 1997 for convenience) and regulation ... SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011 and the appellants as also the other two persons are
directed to pay the penalty
PFUTP Regulations" for short), SEBI (Substantial
Acquisition of Shares and Takeovers) Regulations, 1997 ("SAST
Regulations, 1997") and the Securities and Exchange Board ... excess of 15% and in such a case various obligations under the
Takeover Regulations would get triggered. Appellant who was the
promoter-director of EIIL
read with regulation 29(3) of
SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
("Takeover Regulations, 2011") and regulation ... company. As the appellant failed to
make disclosures under the Takeover Regulations, 2011 and PIT Regulations,
show-cause notice was issued to the appellant
Regulations" for convenience) and SEBI
(Substantial Acquisition of Shares and Takeover) Regulations, 2011
("Takeover Regulations" for convenience).
2. On January ... violation of regulation 29(2) read with
regulation 29(3) of the Takeover Regulations.
3. In the reply filed on January 21, 2016 appellant
offer obligation
4
contained in the SEBI (Substantial Acquisition of Shares and Takeover
Code) Regulations, 1997 ("Takeover Regulations, 1997" for convenience).
5. Accordingly ... acquirer from the investors apart from being in violation
of the Takeover Regulations, 1997, if disclosed at the time of open offer
then they would
offer obligation
4
contained in the SEBI (Substantial Acquisition of Shares and Takeover
Code) Regulations, 1997 ("Takeover Regulations, 1997" for convenience).
5. Accordingly ... acquirer from the investors apart from being in violation
of the Takeover Regulations, 1997, if disclosed at the time of open offer
then they would
offer obligation
4
contained in the SEBI (Substantial Acquisition of Shares and Takeover
Code) Regulations, 1997 ("Takeover Regulations, 1997" for convenience).
5. Accordingly ... acquirer from the investors apart from being in violation
of the Takeover Regulations, 1997, if disclosed at the time of open offer
then they would
offer obligation
4
contained in the SEBI (Substantial Acquisition of Shares and Takeover
Code) Regulations, 1997 ("Takeover Regulations, 1997" for convenience).
5. Accordingly ... acquirer from the investors apart from being in violation
of the Takeover Regulations, 1997, if disclosed at the time of open offer
then they would
following the
procedure prescribed under the SEBI (Substantial Acquisition of Shares
and Takeovers) Regulations, 1997 ("Takeover Regulations, 1997") read
with SEBI (Substantial Acquisition ... Shares and Takeovers)
Regulations, 2011 ("Takeover Regulations, 2011").
3. On the appellant seeking inspection of documents before filing
reply to the show-cause
Platinum and its directors / promoters
violated SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2007 ('SAST Regulations, 1997' for short) and SEBI
(Prohibition
