On 2 August 2011, the Panel was served with two Federal Court applications, one by Mrs Ambreen Chaudhri and Data Base Systems Limited (DBS) and the other by Mr Azhar Chaudhri, seeking judicial review of the Panel's decision to accept undertakings in Bentley Capital Limited 01R (see TP11/56 and TP11/57) ("the Federal Court Proceedings").
At a general meeting of shareholders of Bentley Capital Limited held on 4 April 2012 ("Bentley Meeting") approval was given to the acquisition of shares in Bentley by DBS.
Following the outcome of the Bentley Meeting, the parties in the Federal Court Proceedings have agreed to the discontinuance of those proceedings, which have now been discontinued.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500