Exemption Order in the matter of Gallantt Ispat Limited
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What is this order about?
SEBI examined an exemption request for Gallantt Trust's proposed acquisition of shares in Gallantt Ispat Limited, seeking to avoid SAST Regulations compliance.
Who it concerns
Gallantt Trust, Chandra Prakash Agrawal, Santosh Kumar Agrawal, Prem Prakash Agrawal, Madhu Agrawal, Mayank Agrawal, Uma Agrawal, Ashutosh Agrawal, Shyama Agrawal, Prakhar Agrawal
What was found or directed
- Exemption from SAST Regulations 2011 sought
- Proposed acquisition of 14,48,90,556 shares (60.05%)
- Acquirer Trust is a private family trust
- No change in public shareholding
- Trustees and beneficiaries are family members
- Trust to comply with Master Circular conditions
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KCV/CFD/25/2025-26 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2026-03-20
exemption_order_gi.pdf
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