Jul 20, 2018
Counter Proposals/Revised Proposals Received by the Justice R.M. Lodha Committee Pursuant to its Invitation by way of Public Notice Dated July 10, 2018 for Counter Proposals/Revised Proposals in Furtherance of the Revised Proposal Submitted by PACL Ltd. Dated July 03, 2018
In pursuance of the invitation for counter proposals notified by the Committee vide Press Release dated May 23, 2018, a total of nine (9) counter proposals in sealed cover and addressed to the Nodal Officer were received by it at the end of business on June 21, 2018.
Subsequent to the same, the Committee received a revised proposal vide letter dated July 03, 2018 from PACL Ltd. revising the total offer value for the sale of its properties.
The Committee thereafter vide public notice dated July 10, 2018 provided a final opportunity to any desirous person/entity including PACL to submit their counter proposal/revised proposal in accordance with the terms and conditions as specified in the said public notice by July 17, 2018, 17:00 hrs. In response to the abovementioned public notice, the following counter proposals/revised proposals have been received in sealed cover as on July 17, 2018, 17:00 hrs:
(i) Jackson Engineers Limited, Noida, Uttar Pradesh
(ii) SDPL Land and Builders Pvt. Ltd., Mumbai, Maharashtra
(iii) Vijayalakshmi Marketing, Coimbatore, Tamil Nadu
(iv) Trig Guardforce Ltd., Mumbai, Maharashtra
(v) National Enterprises, Virudhnagar, Tamil Nadu
(vi) PACL Limited, New Delhi
(vii) Janlok Pratishthan, Pune, Maharashtra
The Committee has decided that four proposals which have been received for entirety of the properties remain for consideration namely,
(i) proposal dated June 15, 2018 of Grovalue Marketing Pvt. Ltd.;
(ii) proposal dated July 17, 2018 of PACL Ltd.;
(iii) proposal dated July 17, 2018 of SDPL Land and Builders Pvt. Ltd.; and
(iv) proposal dated July 17, 2018 of Trig Guardforce Ltd.
All the proposals that have been uploaded on the SEBI website are at https://www.sebi.gov.in/PACL.html. The Committee has also called the offerers of the above-mentioned four proposals for a preliminary discussion with the Members of the Committee on Wednesday, July 25, 2018 at 3:00 pm at SEBI Bhawan.