July 25, 2006
PR No. 176/2006

Order in the matter of proposed acquisition of shares of 

M/s. Agarwal Holdings Ltd.

An Order dated July 14, 2006 was passed by Dr. T. C. Nair, Whole Time Member, SEBI rejecting the application dated December 31, 2005 filed by the acquirers, Shri Hitesh G. Somani, Ms. Namrata Kabra and Ms. Geetaben Kabra for the grant of exemption for the proposed acquisition of 1,56,900 (39.22%) equity shares of M/s. Agarwal Holdings Ltd. (target company).
 
The acquirers had filed an application under regulation 4(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 seeking exemption from the applicability of regulations 10, 11(1), 11(2), 12, 13, 15 and 28(5) of the Takeover Regulations with respect to the proposed acquisition of 1,56,900 (39.22%) shares of the target company to the acquirers. The application was forwarded by SEBI to the Takeover Panel. The Panel did not recommend grant of exemption to the acquirers from making an open offer.
 
 
Mumbai

July 25, 2006

For full copy of order against GEETABEN KABRA, click here.

For full copy of order against HITESH GENDALAL SOMANI, click here.

For full copy of order against NAMRATA LALURAM KABRA, click here.