SAT SETS ASIDE SEBI DIRECTIVE ON MYSORE CEMENTS OPEN OFFER

The securities Appellate Tribunal has set aside the SEBI order which had directed German company Heidelberg Cement (represented by Cementrum IB.V) to pay the pubic shareholders of Mysore Cements Rs 72.50 per equity share in its open offer , instead of Rs 58 per equity share that it had paid. Basically SEBI was asking that the non-compete fee paid by Cementrum to the promoters of Mysore Cements should be added to what was paid to the delay.