PRESS RELEASE - SEBI

July 21, 2011
PR No. 116/2011


Directions in the matter of Bheema Cements Ltd.

Dr. K.M. Abraham, Whole Time Member, SEBI, has passed an order dated July 19, 2011 regarding violation of regulation 11(2) of Takeover Regulations by the acquirers – Mr. S.R.B. Ramesh Chandra and others wherein following directions were issued to the acquirers u/s 11, 11(4) and 11B of the SEBI Act, 1992 read with Regulations 44 & 45 of Takeover Regulations – 
 
To divest 41,96,790 shares constituting 4.9% of equity share capital of Bheema Cements Ltd within a period of two months from the date of the Order and transfer the profits, if any, arising out of such disinvestment, to the Investor Protection and Education Fund established under Regulation 3 of the Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009. 
 
Appointment of merchant banker by the acquirers for the purpose of carrying out such disinvestment and the merchant banker would file a report to the SEBI detailing the compliance of the above direction within two weeks from the date of such compliance.
 
To initiate Adjudication proceedings against the aforesaid acquirers in respect of their contravention of Regulation 11(2) of the Takeover Regulations by acquiring 41,96,790 shares without making public announcement.
 
  
Mumbai

July 21, 2011

For full copy of order against DEEPTHI SUNETHRI, click here.

For full copy of order against S.CHANDRA MOHAN, click here.

For full copy of order against S.CHANDRA MOHAN (HUF), click here.

For full copy of order against S.CHATUR SWAROOP CHANDRA, click here.

For full copy of order against S.DHARINI, click here.

For full copy of order against S.KARTHIK SARAT CHANDRA, click here.

For full copy of order against S.KISHORE CHANDRA, click here.

For full copy of order against S.KISHORE CHANDRA (HUF), click here.

For full copy of order against S.LAXMI MOHAN, click here.

For full copy of order against S.R.B.RAMESH CHANDRA, click here.

For full copy of order against S.R.B.RAMESH CHANDRA (HUF), click here.

For full copy of order against S.SASI REKHA, click here.

For full copy of order against VIMALA KUMARI, click here.