Clariant Told To Pay Interest For Open Offer Delay

Clariant International has been directed by the Securities Appellate Tribunal (SAT) to pay interest at the rate of 15 per cent to investors of Colour Chem for the delay in making the open offer.

The appellate authority today said only shareholders who were holding shares of the company as on February 24 1998 and are participating in the open offer will be eligible for the interest.

SAT did not admit Clariant