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IN THE MATTER OF: ACQUISITIONS OF SHARES OF UNITED SUGAR MILLS LIMITED AND 12 OTHERS versus IN THE MATTER OF: ACQUISITIONS OF SHARES OF UNITED SUGAR MILLS LIMITED AND 12 OTHERS

Offer, acquisition of shares in violation of the provisions of section 2 (1) (a), 4, 25 and 26 of the law Enforcement of penalties under the provisions of section 4 of listed companies (substantial acquisition of voting shares and takeaways) Ordinance 2002, Whoever holds more than 10% of the shares in a listed company must not only disclose to the company in which such shares were acquired, but also the stock exchange has been traded securities. It has been confirmed that the disclosure was made under the law, in the present case the acquirers were not made and it was said that the essential provisions of the law which Due to the infringement of the target company and / or the shareholders in connection with the acquisition of the shares, the directors were fined, due to the infringement. The provisions of the law as a director and the company in fact work together to achieve 22% 44% shareholding, and said that with the cooperating parties, the cooperation was for illegal purposes as ensuring transparent transparency. Instead of going and making disclosures, which were a cornerstone for today's capital acquisition, the directors of a listed company deliberately tried to mislead the office. According to the Ordinance 2002, to provide fair and equitable treatment to all investors and to provide a transparent and efficient system for acquisition of voting shares in listed companies, according to the Ordinance 2002, This will defeat the intention of the legislature. To the recipient, the required provisions of the listed companies (substantial acquisition of voting shares and takeaways) law firms from Ludhan lawyer