PRESS RELEASE - SEBI

  June 23, 2009
PR No. 197/2009

Consent Order in the matter of M/s. Shivalik Rasayan Limited

A Panel consisting of Whole Time Members, SEBI, Shri M.S. Sahoo and Dr. K.M. Abraham has passed a consent order dated June 18, 2009 on the consent application submitted by M/s. Shivalik Rasayan Limited (hereinafter referred to as the applicant) for non-compliance with Regulation 6(2), 6(4) of the SEBI (Substantial Acquisition of Shares and Takeovers), Regulations, 1997 (hereinafter referred to as ´┐ŻTakeover Regulations´┐Ż) for the year 1997 and Regulation 8(3) of the Takeover Regulations for the years 1997 to 2007. 
 
The applicant without admitting or denying guilt has remitted a sum of Rs.2,75,000/-(Rupees Two Lakh and Seventy Five Thousand only) towards settlement charges, in the matter. 

Mumbai

June 23, 2009

 


For full copy of order against SHIVALIK RASAYAN LTD., click here.