Adani Enterprises Limited has informed the Exchange that the members of the Company at the Extra Ordinary General Meeting of the Company held on June 18, 2009 approved the special resolution regarding issue, offer and allot Equity Shares of the Company or the instruments convertible into Equity Shares upto the overall amount not exceeding Rs.1500 Crore (Rupees One Thousand Five Hundred Crores Only) or its equivalent in any foreign currency as the case may be (inclusive of such premiums as may be determined) in one or more tranche or tranches, to Qualified Institutional Buyers (as defined by the DIP Guidelines) pursuant to Qualified Institutional Placement (QIP) guidelines, as provided under Chapter XIII-A of the SEBI DIP Guidelines.
Mumbai , July 1 The market regulator SEBI has slapped a penalty of Rs 5 lakh on its former registered stock broker Triumph International Finance, a Ketan Parekh entity, for violating takeover regulations in relation to Adani Exports (AEL).
". On certain dates (6 instances) the total number of shares held by Ketan Parekh entities acting in concert exceeded 5 per cent of the total paid-up equity capital of AEL,"the Securities and Exchange Board of India said in an adjudication order.
It was alleged that Triumph International had not disclosed within four working days, when (along with other Ketan Parekh entities) its acquisition of shares of AEL crossed the threshold limit of 5 per cent.
"In view of the above findings it can be concluded that the noticee ( Triumph International) has violated Regulation 7 of the Takeover Regulations," SEBI said.
| NIFTY 
