Promoters of Prime Focus launch mandatory open offer after CS deal
December 28, 2020
With Credit Suisse signing pact to sell pledged shares, Anil Ambani group raises red flag
RCAP group will seek judicial and regulatory intervention to protect the interests of lenders and shareholders of Prime Focus Ltd (PFL) and Reliance Capital Ltd with respect to the stake sale of Credit Suisse (CS) to PFL promoters.
Mandatory open offer
Following the agreement with Credit Suisse, the promoters have made mandatory open offer to the public shareholders of PFL. In a notice to the stock exchanges, Prime Focus said acquirers have made open offer for up to 8.24 crore shares, representing 26 per cent of the expanded voting share capital.
Credit Suisse s stake sale in Prime Focus blatant abuse of purported rights : Reliance Capital
The proposed sale price (Rs 44.15 per share) is at a substantial altogether unwarranted discount to the intrinsic value of Prime Focus Ltd s shares, says Reliance Capital
Chitranjan Kumar | December 28, 2020 | Updated 16:55 IST
Anil Ambani-controlled Reliance Capital raises concerns over Credit Suisse s 33.12% stake sale in Prime Focus
Anil Ambani-led Reliance Capital has alleged that the proposed sale of 33.12 per cent equity shares of Prime Focus by Credit Suisse (CS) at Rs 44.15 per share is a blatant abuse of the purported rights by the CS under certain lending agreements with Reliance Anil Dhirubhai Ambani Group.
Credit Suisse s acquisition of PFL shares is wrong indiagazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiagazette.com Daily Mail and Mail on Sunday newspapers.
Fiji resident
In a first in the state, the income tax (I-T) department has filed a case under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of
Tax Act of 2015 against a woman who is a citizen of the Fiji islands, and ordinarily a resident of India. As per the case, she did not disclose foreign income or furnish information relating to her foreign assets. The action was initiated by the deputy director of I-T (investigation unit-II, Pune) after a tip-off informed him about foreign transactions done by the woman and her husband.
A criminal case has been filed against 42-year-old Shaista Suhel Patanwala under section 50 (punishment for failure to furnish in return of income any information about an asset, including
Fiji resident
In a first in the state, the income tax (I-T) department has filed a case under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of
Tax Act of 2015 against a woman who is a citizen of the Fiji islands, and ordinarily a resident of India. As per the case, she did not disclose foreign income or furnish information relating to her foreign assets. The action was initiated by the deputy director of I-T (investigation unit-II, Pune) after a tip-off informed him about foreign transactions done by the woman and her husband.
A criminal case has been filed against 42-year-old Shaista Suhel Patanwala under section 50 (punishment for failure to furnish in return of income any information about an asset, including