February
24, 2009
PR No. 094/2009
Consent order in the matter of M/s. Kemoil Ltd.
A Panel consisting of Whole Time Members, SEBI, Shri M.S.Sahoo and Dr. K.M. Abraham has passed a consent order dated February 19, 2009 on an application submitted by M/s. Kemoil Ltd. for their failure to make an open offer to the shareholders of California Software Company Ltd., during 1997, under Regulation 11(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The said failure came to the notice of SEBI while examining the draft offer document in respect of the open offer by M/s. Kemoil Ltd. to the shareholders of California Software Company Ltd., pursuant to the acquisitions made by them during the year 2007-2008.
The applicant has remitted a consolidated amount of Rs. 5,25,000/- (Rupees five lakh twenty five thousand only) towards settlement charges in the matter without admitting or denying guilt.
Mumbai
February 24, 2009
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