BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI


Date of Decision: 24.09.2014

Misc. Application No. 134 of 2014
And
Appeal No. 293 of 2014

Ashok Banwarilal Gupta
Gurukrupa, 6, Dixit Road,
Vile Parle (E),
Mumbai-400 057 …Appellant

Versus

1. Securities and Exchange Board of India,
SEBI Bhavan, Plot No. C-4A, G-Block,
Bandra-Kurla Complex, Bandra (East),
Mumbai – 400 051

2. The Bombay Stock Exchange Limited
Floor 25, P.J . Towers,
Dalal Street, Fort
Mumbai- 400 001

3. Lorgan Lifestyle Limited
Flat No. 6,
Raghukul Apartments S. No. 968/969
Senapati Bapat Road,
Pune- 411 016

4. Corporate Professionals Capital Pvt. Ltd.
D-28, South Extension,
New Delhi- 110 049

5. Mas Services Limited
T-34, IInd Floor, Okhla Industrial Area,
Phase II, New Delhi- 110 020 …Respondents

Mr. Rohit Pande, Advocate for the Appellant.

Mr. J .P. Sen, Senior Advocate with Mr. Manish Acharya, Advocate for
Respondent No. 1

Mr. Vishwajeet Sawant, Advocate with Mr. Vishwabhushan Kamble,
Advocate for Respondent Nos. 3 & 4.

None for Respondent Nos. 2 & 5

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2

CORAM: J ustice J .P. Devadhar, Presiding Officer
A.S. Lamba, Member

Per: J ustice J .P. Devadhar (Oral)


1. Appellant is aggrieved by the open offer made by respondent no. 3
for acquisition of shares of SVC Resources Ltd. from its shareholders.
Admittedly, the open offer commenced on September 2, 2014 and ended
on September 15, 2014.

2. It appears that appellant had made a representation to SEBI on
J anuary 28, 2014 and thereafter on September 4, 2014 alleging certain
violations committed by the acquirer-respondent no. 3. Although counsel
for SEBI stated before us that the representation was in fact considered
and thereafter the proposal for acquisition of shares by respondent no. 3
was approved, in the absence of any specific order passed on the
representations made by the appellant, we direct SEBI to consider the
representations of the appellant afresh and pass appropriate order as they
deemed fit within a period of 6 weeks from today.

3. Appeal as well as the Miscellaneous Application is disposed of in
above terms with no order as to costs.


Sd/-
J ustice J .P. Devadhar
Presiding Officer




Sd/-
A S Lamba
Member
24.09.2014
Prepared & Compared By: PK

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