An Indian appeals court has upheld a decision by the country's Securities & Exchange Commission last Aug. 6 that Luxottica must make a public offering to acquire up to an additional 20 percent stake in RayBan Sun Optics India, a publicly listed firm, at the average price quoted in the 6 months before Apr. 28, 1999, plus a stipulated interest increment. Luxottica says it is reviewing the latest court verdict to decided whether to comply or to challenge it further. Compliance would involve an additional investment of about €10 million, with no material financial impact on the group.