LUXOTTICA GROUP SPA Vs. SECURITIES AND EXCHANGE BOARD OF INDIA
LAWS(SB)-2003-8-2
SECURITIES APPELLATE TRIBUNAL
Decided on August 29,2003

Appellant
VERSUS
Respondents

JUDGEMENT

C.Achuthan, - (1.) THE order passed by the Respondent (SEBI) on 5.8.2002 in the matter of acquisition of shares/voting rights and control of Ray Ban Sun Optics India Ltd. (formerly known as Bausch & Lomb India Ltd.) by Luxottica S. p. A is under challenge in the present appeal.
(2.) The Appellant No. 1 (the Luxottica Group S.p.A) is a company registered under the laws of Italy. It is engaged inter alia in the design, manufacture and marketing of prescription/spectacle frames and sunglasses ('Eyewear' business/ 'the Business'). It has operations in several countries directly or through its subsidiaries. The Appellant No.2 is a corporate entity incorporated under the laws of USA. It is a wholly owned indirect subsidiary of the Appellant No. 1. The Appellant No.3 is also a corporate entity incorporated under the laws of USA. It is a wholly owned subsidiary of the Appellant No.2 and an indirect subsidiary of the Appellant No. 1.
(3.) CERTAIN other entities, namely Bausch & Lomb Inc. Ray Ban Sun Optics India Ltd.(formerly known as Bausch & Lomb India Ltd.), Bausch & Lomb South Asia Inc, Bausch & Lomb South Asia Holdings Inc., are also involved in the matter. Bausch & Lomb Inc., a corporate entity incorporated in New York, belongs to the Bausch & Lomb Group of USA. Bausch & Lomb Group is engaged in the production, marketing and distribution of sunglasses and spectacle frames and certain related accessories (Eyewear and Eyecare business) in various localities around the world.;


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