Chapter III - SUBSTANTIAL ACQUISITION OF SHARES OR VOTING RIGHTS IN AND ACQUISITION OF CONROL OVER A LISTED COMPANY (From Regulation 10 to Regulation 29A)
Acquisition of shares by state public financial institutions requires adherence to takeover rehabilitation provisions with a designated compliance agency. Regulation 37 provides that when a State level public financial institution proposes to acquire shares in a financially weak company, the takeover provisions applicable to a public financial institution's scheme of rehabilitation apply, but the Industrial Development Bank of India is designated as the agency responsible for ensuring compliance with those regulations in respect of the acquisition.
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.
Acquisition of shares by state public financial institutions requires adherence to takeover rehabilitation provisions with a designated compliance agency.
Regulation 37 provides that when a State level public financial institution proposes to acquire shares in a financially weak company, the takeover provisions applicable to a public financial institution's scheme of rehabilitation apply, but the Industrial Development Bank of India is designated as the agency responsible for ensuring compliance with those regulations in respect of the acquisition.
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