Power to issue directions enables remedial orders for breaches of takeover rules, including divestiture and market access restrictions. The Board may, in the interest of investors and the securities market, issue directions to remedy or prevent violations of takeover regulations, including divestiture of shares acquired in breach, transfer of proceeds to the investor protection fund, restraints on transfers and voting rights, debarring market access, directing or enforcing open offers with interest for delays or defaults, ordering cessation of uncompliant control, restricting disposals inconsistent with offer terms, and reducing shareholding to permissible non-public limits; proceedings must comply with the principles of natural justice and the Board may proceed against non-compliant intermediaries.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to issue directions enables remedial orders for breaches of takeover rules, including divestiture and market access restrictions.
The Board may, in the interest of investors and the securities market, issue directions to remedy or prevent violations of takeover regulations, including divestiture of shares acquired in breach, transfer of proceeds to the investor protection fund, restraints on transfers and voting rights, debarring market access, directing or enforcing open offers with interest for delays or defaults, ordering cessation of uncompliant control, restricting disposals inconsistent with offer terms, and reducing shareholding to permissible non-public limits; proceedings must comply with the principles of natural justice and the Board may proceed against non-compliant intermediaries.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
