With reference to earlier submission dated July 03, 2009 regarding acquisition of 90,00,000 equity shares of Andhra Cements Ltd (Target Company) by ISG Traders Ltd (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 and Regulation 13 (3) of SEBI (Prohibition of Insider Trading) Regulations - 1992, Andhra Cements Ltd has now informed BSE that NRC is under BIFR and as per BIFR / AAIFR Order, the above transaction was not approved, as informed to the Company by NRC and ISG.
In view of the above, the said transaction stand cancelled, ab initio, and accordingly has made void the intimation to the exchange vide Company's letter dated July 03, 2009, as informed to the Company by NRC and ISG.
Sensex
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Friday, June 03, 2011
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