Listing the details from the proceedings of 03.02.2023.
While the current petitions nu Dhanekula Dharanish & Tejo Ratna Kongara has been found meritless so far, the cases are still pending and can drag the matters from here further.
Also a lot depends on the ability of the valuer to justify the 2020 valuation, otherwise it might potentially derail the whole merger.
| Case No. | Status | Party | Details |
|---|---|---|---|
| CA No. 192/2022, 256/2022, 266/2022 | Disposed | Dhanekula Dharanish | 192 – Original Case filed by Mr. Dhanish. Status is still pending. 255, 256 – Seeking additional disclosure documents |
| CA No. 8/2023 | Pending | Tejo Ratna Kongara | Requested additional disclosure documents |
| CA No. 9/2023 | Pending | Tejo Ratna Kongara | Filed by Tejo Ratna Kongara (who bought stake from Mr. Dharanish) |
| CA No. 5/2023 | Disposed | BSE | Clarification received. No further charges |
| CA No. 29/2023 | Pending | Tejo Ratna Kongara | prayer to get access filed by the Income Tax Department |
| MA No. 1/2023 | Pending | Dhanekula Dharanish | Furnish additional documents linked to 192/2022 |
| CA No. 265/2022 | Disposed | AP High Court, SEBI | Documents filed are included in Main Case. |
| CP(CAA) No. 14/Chd/Hry/2022 | Pending | IT Department | Reference wrongly mentioned in MA No. 1/2023. IT department to file written response. 24.06.22 – IT department report citing overvaluation. Diary No. 293/6 dated 05.09.2022 – Does not clearly rebut the overvaluation Diary No. 293/7 dated 07.09.2022 – No response to the report filed. Mr. Mandar Vikas Gadkari (BDO Valuation Advisory LLP)- file affidavit for justyfying validation made on 18.08.2020 & present valuation case in court on 01.03.2023 |
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