Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI, has passed an order dated October 08, 2012 granting relaxation/exemption to the acquirer namely Mr. Kannan Krishnan Naiker from making a public announcement as required under regulation 3(1) and 4 read with regulations 13, 14 and 15 and from the obligation to file the letter of offer under regulation 16(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in respect of their proposed acquisition of 5,62,500 equity shares representing 45% of paid up capital of the Target Company.
The application filed by the applicant was received by SEBI on February 03, 2012. The applicant has further submitted a revised application on July 24, 2012 seeking the said relaxation/exemption.
The full text of the order is available on the website: www.sebi.gov.in