SAT directs public announcement as conversion of warrants increased voting rights of appellants by m

CL: Where on conversion of warrants, voting right of appellants in target-company increased from 50.23 per cent to 62.92 per cent, i.e., more than 5 per cent, in violation of Regulation 3(2) of Takeover Regulations, appellants were to be directed to make public announcement to acquire shares of target-company