Regarding acquisition of 90,00,000 equity shares of Andhra Cements Ltd (Target Company) by ISG Traders Limited (ISG) from NRC Ltd (NRC) as inter-se transfer on June 30, 2009 in compliance of Regulation 7(1A) of SEBI (Substantial Acquisition of Share and Takeovers) - 1997, ISG Traders Limited has now informed BSE that NRC is under BIFR and as per BIFR / AAIFR Order the above transaction was not approved.
In view of the above submission, the said transaction stand cancelled, ab initio, and accordingly has made void the intimation / application to the exchange vide ISG letter dated July 01, 2009.
Sensex
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Wednesday, June 01, 2011
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