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Moneycontrol.com >> Message Board >> View Messages >> Advani Hotels
   You are here :     Moneycontrol     MMB      Stocks      Advani Hotels
BSE Announcements on Advani Hotels (1)   03-Jul-08 17:04Tracked by (0)  
Posted by:   MMB Messenger on ( 03-Jul-08 17:04 )
Price : [Advani Hotels - BSE:Rs. 61.50 NSE:Rs. 65.50 when posted]
Advani Hotels & Resorts India Ltd has informed BSE that Advani Hotels & Resorts (India) Ltd (AHRIL) and its promoters had filed Appeal bearing No 85 of 2008 before Securities Appellate Tribunal ("SAT") against the order dated May 06, 2008 passed by Securities and Exchange Board of India ("SEBI") inter alia clearing the Letter of Offer submitted by Delta Hospitality Pvt Ltd ("DELTA/ACQUIRER") along with persons acting in concert for acquiring 20% equity shares of AHRIL.

In the said appeal AHRIL had inter alia prayed for a direction to be issued to SEBI to investigate the various complaints filed by AHRIL with SEBI from time to time regarding the public offer made by DELTA. The said appeal came up for hearing before Honble Tribunal on July 01, 2008. After hearing the parties, Honble Tribunal vide its order dated July 01, 2008 disposed of the appeal and has inter alia directed SEBI to dispose of the Complaint dated June 18, 2008 filed by AHRIL, with regard to the public offer made by DELTA, in accordance with law by passing a speaking order.
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