Regulation 69G - Offer not to exceed maximum permissible non-public shareholding.
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter VI-A CONDITIONS AND MANNER OF PROVIDING EXIT OPPORTUNITY TO DISSENTING SHAREHOLDERS
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Non-public shareholding limits require promoters to reduce stake if exit offer completion causes statutory breach within prescribed timelines. Regulation 69G requires that if acceptance of an exit offer causes promoters and persons acting in concert to exceed the maximum permissible non-public shareholding, the promoters or shareholders in control must reduce their collective non-public shareholding to the prescribed level within the time and manner specified under the Securities Contract (Regulation) Rules, 1957.
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.
Non-public shareholding limits require promoters to reduce stake if exit offer completion causes statutory breach within prescribed timelines.
Regulation 69G requires that if acceptance of an exit offer causes promoters and persons acting in concert to exceed the maximum permissible non-public shareholding, the promoters or shareholders in control must reduce their collective non-public shareholding to the prescribed level within the time and manner specified under the Securities Contract (Regulation) Rules, 1957.
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