Restriction on acquisition of substantial equity: prior Central Government approval required before threshold-crossing share purchases. Acquirers-individuals, firms, groups, constituents of groups, and bodies corporate under the same management-may not acquire or agree to acquire equity shares in a public company or its private subsidiary if the intended acquisition, together with existing holdings, would exceed the twenty-five per cent paid-up equity share capital threshold, except with the prior approval of the Central Government; companies majority-owned by the Central Government, statutory corporations, and financial institutions are barred from transferring such shares to a prohibited acquirer unless that acquirer has obtained that approval.