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S&P
BSE SENSEX
74,339.44
+486.50
+0.66 %
Corporate Announcement
Security Code
505744
Company
Federal-Mogul Goetze (India) Ltd
Exchange Received Time
07/11/2019 21:35:45
Exchange Disseminated Time
07/11/2019 21:35:52
Time Taken
00:00:07
Update On The Order Of The Securities Appellate Tribunal, Mumbai, In Appeal Nos. 352 And 359 Of 2019, Appeal Lodging Nos. 458 And 459 Of 2019 And Miscellaneous Application No. 418 Of 2019, Dated November 07, 2019 |
11/07/19 21:35
We have been informed by CKP Financial Services Pvt. Ltd., Merchant Bankers to the Open Offer that the SAT has passed the Order dated November 07, 2019, the copy of which is available on the website of the SAT. The Order pertains to the appeal filed by the Acquirer with SAT against the communication sent by the Securities Exchange Board of India ('SEBI') bearing number SEBI/HO/CFD/DCR1/OW/P/2019/016951/1 dated July 04, 2019 ('Communication'), as notified by us on July 04, 2019.
The SAT Order dismisses the appeals and disposes the intervention application filed by the appellants/ intervener (i.e. the Acquirer and the shareholders), and therefore has, inter-alia, upheld the offer price of Rs. 608.46 as directed by SEBI in the Communication.
We understand that the Acquirer is presently reviewing the Order and will evaluate the options available to it after examining the same after which the further course of action will be determined in relation to the Open Offer.
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