Exemption Order in the matter of Refex Renewables & Infrastructure Limited
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What is this order about?
SEBI examined an application for exemption from takeover regulations for a proposed indirect acquisition of shares in Refex Renewables & Infrastructure Limited by Refex Family Trust, which involves family members transferring shares through a trust.
Who it concerns
Refex Family Trust, Mr. Anil Jain, Mr. Tarachand Jain, Mrs. Ugamdevi Jain, Mrs. Dimple Jain, Mr. Yash Jain, Mr. Dheer Jain
What was found or directed
- Exemption sought from SAST Regulations 2011 for indirect acquisition
- Acquirer Trust proposed to acquire 43.92% shareholding indirectly via RHPL
- No change in total equity share capital of Target Company
- Trustees and beneficiaries are promoters or their immediate relatives
- Acquirer Trust must comply with Master Circular conditions
- Annual compliance certification by independent auditor required
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KCV/CFD/21/2025-26 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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Documents
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Order
2026-02-11
exemption_order_refexren.pdf
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