Limited (SRMTL) under the SEBI (Substantial
Acquisition of Shares and Takeovers) Regulations, 1997 (Takeover
Code/Takeover Regulation) has been rejected.
Facts :
2. On 22nd March ... invocation of the pledge triggered Regulation 10 of the
Takeover Code.
6. On 26th July, 2005, in accordance with the Regulation 10 of the
Takeover
India (Substantial Acquisition of Shares
and Takeovers) Regulations, 1997 (the SEBI Takeover Regulations or
Takeover Code).
2. The facts of the case are fairly simple ... Exchange Board of
India (Substantial Acquisition Of Shares And Takeover) Regulations, 1997
(the Takeover Code or the Takeover Regulations) framed under section
India (Substantial Acquisition of
Shares and Takeovers) Regulations, 1997 (hereinafter referred to as
the 'Takeover Code'). Respondent No.3, who is the real ... parameters laid down under Regulation 20(5) of the Takeover Code
and the Board had taken all necessary precautions to safeguard the
interest
Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter called the takeover
code). That entity has merged into the appellant and consequently ... appellant is
an "acquirer" within the meaning of the takeover code and belongs to the group
"Subhkam Ventures" promoted by Rakesh
Exchanges. Similarly when SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (for short Takeover Code) was notified by SEBI on 20th February ... 18th April, 1997 as per the requirements of the Takeover Code. However, it seems that some of these shares of L&T were sold
done in terms of SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 1997 (Takeover Code). The acquirer was in a position to acquire through public ... view to comply with requirements of Regulation 7 of the Takeover Code. In spite of repeated reminders, the respondent company had not informed the reasons
India (Substantial
Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to
as the takeover code) when it acquired 6.17 per cent of the equity ... public announcement to acquire further shares in accordance with the
takeover code. Facts giving rise to this appeal lie in a narrow compass and these
Board of
India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter
called the takeover code) got triggered. Accordingly, the appellant made a public
announcement ... under Regulation 14 read with Regulations 10 and 12 of
the takeover code to acquire 20 per cent share capital of the target company
Board of India (Substantial Acquisition of
Shares and Takeovers) Regulations, 1997 (for short the takeover code) provides that no
acquirer shall acquire shares which, taken ... announcement to acquire shares of such company in accordance with the takeover code.
Regulation 14 of the takeover code prescribes the timing of the public
Board of India (Substantial Acquisition of Shares and Takeovers)
2
Regulations, 1997 (for short takeover code) and imposing a penalty of ` 50 lacs
under Section ... threshold limits as prescribed in Regulations 10 and 11
of the takeover code. As per Regulation 14(2) thereof, these appellants (the
acquirers) were required
