Background
- Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™), while examining the alleged irregularity in the trading in the shares of Flawless Diamonds India Limited (hereinafter referred to as ‘FDIL™) observed that Rotomac Global Private Limited (hereinafter referred to as ‘the Noticee), had acquired 40, 00,000 shares i.e. 24% shareholding / voting rights of the FDIL from four entities on October 30 & 31, 2009. The Noticee allegedly failed to comply with regulation 10 & 14 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as ˜SAST Regulations™).
The full order is available for download here.
