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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 21A allows conditional offers in takeovers with less than 20% acceptance, including rescind clause if unmet.</h1> Regulation 21A of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 allows an acquirer or a person acting in concert to make an offer conditional upon a certain level of acceptance, which can be less than 20%. If the offer is based on a Memorandum of Understanding, it must include a clause that if the desired acceptance level is not achieved, the acquirer will not acquire shares and will rescind the offer. This provision was introduced through an amendment effective from September 9, 2002.
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