SAST

SEBI observes Irregularities in Acquisition of Shares under SAST Regulations

Securities and Exchange Board of India (SEBI) has not observed any irregularities in acquisition of shares by promotes in open offers. However, SEBI has observed instances where promoters have acquired shares without fulfilling the obligation to make an open offer. The data regarding the total number of cases where violation of SEBI (Substantial Acquisition of… Read More

Tags: Exchange Board of IndiaLok SabhaSASTSEBISecurities and Exchange Board of IndiaSouth African Standard TimeTakeover

Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer

Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™) examined the Letter of offer document dated December 14, 2010 by M/s Ultraplus Housing Estate Pvt. Ltd (Acquirer), to the shareholders of M/s Associated Cereals Limited (Target Company) (hereinafter referred to as ACL). SEBI observed that Shri Bimal Kumar Agarwal (hereinafter referred to as the… Read More

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