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SEBI Notices |
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PR No.130/2008
Consent Order in the matter of Kausar India Limited
A Panel consisting of Shri C.B.Bhave, Chairman and Dr. T. C. Nair, Whole Time Member has passed consent order dated June 16, 2008, in the matter of Kausar India Limited on the application of consent for non compliance of Regulation 7 (1A) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 1997 submitted by Mr. Sadeev Sandhu, Ms. Kashni Sandhu and Ms. Shilpi Sandhu (Persons Acting in Concert)., in accordance with SEBI Guidelines dated April 20, 2007 for consent orders. The applicant has remitted a sum of Rs.50,000/- (Rupees Fifty Thousand only) towards the terms of consent in the matter.
The full text of the order is available on the website: www.sebi.gov.in
Mumbai
July 01, 2008
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Source: SEBI Date: 2008-07-02 |
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PR No.129/2008
Order against Vision Organics Ltd. and its Promoters/Directors
Shri J H Shah and Smt. Nayana J Shah
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 20, 2008 restraining Vision Organics Limited, its Promoters/Directors Shri J H Shah and Smt Nayana J Shah from accessing the securities market and prohibiting them form buying, selling or dealing in securities market for a period of three years.
The restrain already undergone by the noticees pursuant to SEBI order dated January 24, 2006, shall be reduced while computing the period of restrain being imposed vide this order.
The full text of the order is available on the website: www.sebi.gov.in
Mumbai
June 23, 2008
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Source: SEBI Date: 2008-06-23 |
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PR No.128/2008
SEBI BOARD MEETING
The SEBI Board held its meeting in Mumbai today and decided as follows:
Introduction of Exchange Traded Currency Futures Market:
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The Board took note of the Report of the RBI-SEBI Standing Technical Committee on Exchange Traded Currency Futures. The Board also noted that applications have been received from two Exchanges, namely National Stock Exchange of India Ltd. (NSE) and Multi Commodity Exchange India Ltd. (MCX), for starting exchange traded currency futures platform.
The Board also approved the draft amendment to the SEBI (Stock Brokers and Sub Brokers) Regulations, 1992, providing for registration of Trading and Clearing Members of the currency derivative segment of a Stock Exchange.
Issues related to Depositories:
The Board considered the system audit report of M/s. Pricewaterhouse Coopers regarding inter – depository transfer systems between NSDL and CDSL and noted the recommendations made therein. The Board also noted that with regard to the problems in inter-depository transfers witnessed on December 19, 2007 and January 8, 2008, two issues related to CDSL system, which have subsequently been rectified by CDSL.
The Board took note of the developments regarding charges levied by CDSL and efforts made by SEBI to bring about transparency in the matter.
Amendment to Regulation 32 of SEBI (Depositories and Participants) Regulations, 1996:
The Board approved the amendments to Regulation 32 of SEBI (Depositories and Participants) Regulations, 1996 for doing away with the requirement of the depositories to ensure payments before effecting the transfer, in the demat system.
Mumbai
June 20, 2008
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Source: SEBI Date: 2008-06-21 |
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PR No.126/2008
Grant of exemption to Abbott Capital India Limited pursuant to buy back of shares by Abbott India Limited
Dr. T.C.Nair, Whole Time Member, SEBI has passed an Order dated June 17, 2008, granting exemption to the acquirers viz. Abbott Capital India Limited (acquirer) from making an open offer in terms of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, with regard to increase in their voting rights from 65.14% to 68.94% consequent to the proposed buy back of shares by M/s. Abbott India Limited (Target Company). Pursuant to the said increase in voting rights, there would not be any change in control of the target company.
The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel recommended for exemption to the acquirer from making an open offer.
The full text of the above Order is available on the website www.sebi.gov.in
Mumbai
June 20, 2008
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Source: SEBI Date: 2008-06-20 |
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PR No.122/2008
Order against M/s. Subh Laxmi Projects Limited now known as
M/s. Concrete Credit Limited
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 2, 2008 in the matter of M/s. Subh Laxmi Projects Limited now known as M/s. Concrete Credit Limited, a company listed at Calcutta Stock Exchange Association Limited (CSE). The said company shall be eligible for trading at the exchange subject to complying with all other applicable laws. Earlier the trading in the shares of the company were suspended vide an interim order dated September 29, 2005.
The full text of the above order is available on the website: www.sebi.gov.in.
Mumbai
June 09, 2008
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Source: SEBI Date: 2008-06-10 |
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PR No.121/2008
Order in the matter of Shree Rama Multi-Tech Ltd.
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 06, 2008 in the matter of Shree Rama Multi-Tech Ltd., directing :
(i) Shree Rama Multi-Tech Ltd. to restrain from accessing the securities market and prohibited from buying, selling or dealing in securities, directly or indirectly, for a period of 5 (five) years. The period of debarment already undergone by the company shall be set-off from the period of debarment as directed herein above and
(ii) The show cause notice dated October 14, 2003 issued to M/s. Rambhai Patel, Hansraj Kanji and Dr. Prakash Trivedi stands disposed of without any directions.
The full text of the above order is available on the website: www.sebi.gov.in
Mumbai
June 09, 2008
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Source: SEBI Date: 2008-06-10 |
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PR No.120/2008
Grant of exemption to Mr. Rajhoo Bbarot and other for proposed acquisition of shares in M/s. Atlanta Limited
Dr. T.C.Nair, Whole Time Member, SEBI, has passed an order dated June 04, 2008, granting exemption to acquirer Mr. Rajhoo Bbarot and others (acquirers and PACs belonging to the promoter group) seeking exemption from applicability of Regulation 11(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of their proposed acquisition of shares of M/s. Atlanta Limited, pursuant to conversion of 18,00,000 convertible warrants into equity shares resulting in increase in voting rights from 70.55% to 73.48%.
The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel recommended grant of exemption to the acquirers from making an open offer.
The full text of the above order is available on the website: www.sebi.gov.in
Mumbai
June 06, 2008
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Source: SEBI Date: 2008-06-07 |
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PR No.119/2008
Order in the matter of Krishna Filaments Ltd.
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 05, 2008 directing:
(i) M/s. Krishna Filaments and its directors Shri/S K. K. Agarwal, O. P. Agarwal, S. K. Agarwal and M/s. Krishna Vinyl Limited to restrain from accessing the securities market and also prohibited from buying, selling or otherwise dealing or associating with the securities market for a further period of 2 (two) years in addition to the period of debarment already undergone by them; and
(ii) S/Shri K K Agarwal, O.P.Agarwal, S.K. Agarwal and M/s. Krishna Vinyl Limited have been directed to make public announcements as required under Chapter III of the said Regulations in terms of sub-regulation (2) of regulation 11 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 by taking March 31, 1998 as the reference date for calculation of the offer price. The public announcement shall be made within 45 (forty five) days of passing of this Order. Further, in terms of sub-regulation (12) of regulation 22 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the payment of consideration to the shareholders of the KFL to be paid within 30 (thirty) days of the date of closure of the offer.
The full text of the order is available on the SEBI website: www.sebi.gov.in
Mumbai
June 06, 2008
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Source: SEBI Date: 2008-06-07 |
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PR No.115/2008
Grant of exemption for proposed acquisition of shares of
ICI India Ltd. (target company)
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 02, 2008 granting exemption from complying with the provisions of regulation 11(1) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of the incidental increase in the voting rights of Imperial Chemical Industries PLC (acquirer) from 50.83% to 55.83% in the target company consequent to the proposed buyback of the target company. The acquirers are part of the promoter group of the target company. Pursuant to the said increase in the voting rights, there would not be any change in control of the target company.
The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel recommended for exemption to the acquirers from making an open offer.
The full text of the above order is available on the website: www.sebi.gov.in
Mumbai
June 05, 2008
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Source: SEBI Date: 2008-06-05 |
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PR No.116/2008
Grant of exemption for proposed acquisition of shares of
Samtel Color Ltd. (target company)
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 2, 2008 granting exemption from complying with the provisions of regulation 11 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of the proposed acquisition of 6976744 Equity Shares/warrants of the target company by Teletube Electronics Ltd. and CEA Consultants Pvt. Ltd. (acquirers). The acquirers are part of the promoter group of the target company. Pursuant to the proposed acquisition, the shareholding of the total promoter group would increase from 41.06% to 48.74%.
The proposed acquisition is through preferential allotment of shares and warrants to the promoters and pursuant to the said acquisition, there would not be any change in control of the target company.
The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel recommended for exemption to the acquirers from making an open offer.
The full text of the above order is available on the website: www.sebi.gov.in
Mumbai
June 05, 2008
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Source: SEBI Date: 2008-06-05 |
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PR No.117/2008
Rejection of exemption application of Shri Gokul M Jayakrishna and others for proposed acquisition of shares in M/s. Aksharchem (India) Limited
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated June 02, 2008 rejecting the application of Shri Gokul M Jayakrishna and others (acquirers and PACs belonging to the promoter group) seeking exemption from applicability of Regulation 11(1) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of their proposed increase in voting rights from 54.99% to 63.47% pursuant to the proposed buy back of equity shares by the target company [M/s. Aksharchem (India) Limited].
The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel did not recommend grant of exemption to the acquirers from making an open offer.
The full text of the above order is available on the website: www.sebi.gov.in
Mumbai
June 05, 2008
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Source: SEBI Date: 2008-06-05 |
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PR No.114/2008
Order against M/s. Mega Millennium Securities Pvt. Ltd. and oth | |
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