DISCLOSURES OF SHAREHOLDING AND CONTROL IN A LISTED COMPANY - Securities And Exchange Board of India(Substantial Acquisition of Shares And Takeovers) Regulations, 1997
DISCLOSURES OF SHAREHOLDING AND CONTROL IN A LISTED COMPANY - Securities And Exchange Board of India(Substantial Acquisition of Shares And Takeovers) Regulations, 1997
Bail out takeovers require lead institution oversight to protect minority shareholders through structured rehabilitation and acquisition terms. Regulation 30 requires the lead institution approving a rehabilitation scheme to ensure compliance, appraise financial viability, assess revival funding ... Summary
Bail out takeovers require lead institution oversight to protect minority shareholders through structured rehabilitation and acquisition terms.
Regulation 30 requires the lead institution approving a rehabilitation scheme to ensure compliance, appraise financial viability, assess revival funding and prepare a rehabilitation package prioritising minority shareholder protection, good management, effective revival and transparency; the scheme must disclose any change in management and may provide for acquisition by purchase, exchange or both, aiming to eliminate erstwhile promoter shareholding where new promoters acquire control. "Financially weak company" is defined by accumulated losses eroding a substantial portion of opening net worth.
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