This Public Announcement is an ADDENDUM to the Public Announcement dated 29th September 2003, issued by the Manager to the Offer, i.e., Chartered Capital & Investment Limited, on behalf of the Acquirers, Mr Nitin Khara, Mr. Nalin Khara, Mr. Elesh Khara and Mrs. Rasila Khara alongwith NNV Finance Limited (PAC), pursuant to Regulation 10 and Regulation 12 as required under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as “SEBI (SAST) Regulations, 1997”) and subsequent amendments thereto.
The Shareholders of the Company should note that the Company had been referred to BIFR (BIFR reference No 265/2002) and subsequently, the company has received an Order dated 29th September 2003 from BIFR stating that “the Company was not a “manufacturing concern” and hence could not be classified as an “Industrial Company” in terms of Sec 3(1)(o) of the Sick Industrial Companies (Special Provisions) Act, 1985 and hence the Bench declared the case as “non- maintainable.” In view of the Company not being a Sick Industrial Undertaking, no prior approval from BIFR for transferring management control and/or shares of the Company in favour of the Acquirers is required.
This Public Announcement (Addendum) would also be available at SEBI’s website, www.sebi.gov.in.
This Public Announcement is being issued on behalf of the Acquirers by the Manager to the Offer, M/s Chartered Capital & Investment Limited.
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Manager to the Offer
CHARTERED CAPITAL & INVESTMENT LIMITED
Contact Person: Mr Deepak Singhvi
301, Camy House, Dr. C. H. Street, Marine Lines, Mumbai – 400 002.
Tel nos.: 022-2200 4271/73;
Fax no.: 022 - 2200 4273;
Email: dpsinghvi@vsnl.net
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Place: MUMBAI Date: November 07, 2003