Financial Daily from THE HINDU group of publications
Tuesday, Jan 29, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jan 29, 2002 |
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Corporate
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Open Offers SEBI exemption to Thapar bros Our Bureau
MUMBAI, Jan. 28 THE Securities and Exchange of India (SEBI) has granted exemption to the Thapar brothers from making an open offer to acquire voting rights of Shree Sitaram Sugar Company Ltd, Deoria Sugar Mills, New Savan Sugar and Gur Refining Company Ltd under a family settlement agreement (FSA). The FSA proposed dividing the Thapar group into four, to be headed by Mr Brij Mohan Thapar, Mr Karan Thapar, Mr Gautam Thapar, and Mr Lalit Thapar each. SEBI said the Thapar group of companies consist of an intricate web of cross-holdings between group companies and each of the Thapar brothers would have to acquire shares of the respective companies allocated to them under the FSA.
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