Chapter III - SUBSTANTIAL ACQUISITION OF SHARES OR VOTING RIGHTS IN AND ACQUISITION OF CONROL OVER A LISTED COMPANY (From Regulation 10 to Regulation 29A)
Takeover panel process: application, fee and prescribed timelines govern exemption requests under takeover regulations procedure. Regulation 4 mandates that the Board constitute a Takeover Panel of majority independent persons. An acquirer seeking exemption must file an application with a sworn affidavit and pay a filing fee of fifty thousand rupees. The Board forwards the application to the panel within five days; the panel must recommend within fifteen days. The Board, after giving parties a reasonable opportunity and considering the panel's recommendation, must pass and publish a reasoned order within thirty days.
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.
Takeover panel process: application, fee and prescribed timelines govern exemption requests under takeover regulations procedure.
Regulation 4 mandates that the Board constitute a Takeover Panel of majority independent persons. An acquirer seeking exemption must file an application with a sworn affidavit and pay a filing fee of fifty thousand rupees. The Board forwards the application to the panel within five days; the panel must recommend within fifteen days. The Board, after giving parties a reasonable opportunity and considering the panel's recommendation, must pass and publish a reasoned order within thirty days.
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