July 06, 2010
PR No. 153/2010
Consent Order on the applications submitted by M/s. DISA Holding AG and M/s. DISA India Limited in the matter of M/s. DISA India Limited
A Panel consisting of Whole Time Members, SEBI, Dr. K. M. Abraham and
Shri Prashant Sharan, has passed consent order dated July 01, 2010 on the consent applications submitted by M/s. DISA Holding AG (the Acquirer) and M/s. DISA India Limited (the Target Company) for settlement of the following non-compliances.
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1. |
Non-compliances by the Acquirer in regard to the acquisition of shares of the Target Company with the provisions of: |
| (i) |
Regulation 7(1A) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (the Takeover Regulations) for the acquisition made on March 22, 2005. |
| (ii) |
Regulation 3(3) of the Takeover Regulations for the acquisition made on October 20, 2004. |
| (iii) |
Regulation 3(4) of the Takeover Regulations for the acquisition made on October 20, 2004. |
| (iv) |
Regulation 13(3) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 for the acquisition made on October 20, 2004. |
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2. |
Non-compliances by Target Company with the provisions of : |
| (i) |
Regulation 7(3) of the Takeover Regulations with regard to the acquisition made by the Acquirer on October 20, 2004. |
| (ii) |
Regulation 13(6) of the SEBI (Prohibition of Insider Trading) Regulations, 1992. |
M/s. DISA Holding AG and M/s. DISA India Limited, without admitting or M/s. DISA Holding AG and M/s. DISA India Limited, without admitting or denying guilt have remitted a sum of Rs.7,00,000/- (Rupees Seven Lakh only ) and Rs.1,00,000 (Rupees One Lakh only), respectively towards the settlement charges in the matter.
Mumbai
July 03, 2010
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