February
05, 2009
PR No. 078/2009
Consent Order in the matter of Navkar Builders Limited
A Panel consisting of Whole Time Members, SEBI, Shri M.S.Sahoo and Dr. K.M.Abraham, has passed a consent order dated January 29, 2009 on the consent application submitted by M/s. Navkar Fiscal Services Private Limited for non-compliance with Regulation 3(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 in the matter of acquisition of 21.97% of the total share capital of M/s. Navkar Builders Limited on May 16, 2007.
The applicant has without admitting or denying guilt, remitted a sum of Rs.50000/-(Fifty Thousand only) towards settlement charges in the matter.
Mumbai
February 05, 2009
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