Exercise of rights on acquisition: limited economic benefits and voting restricted to insolvency matters, with influence prohibition. Regulates exercise of rights by an acquirer where notice under clause (a) of section 6A is required for open offer or stock exchange acquisitions: the acquirer may avail economic benefits such as dividends, distributions, rights issue subscriptions, bonus shares, stock-splits and buy-backs; voting rights are limited to liquidation and insolvency matters; and the acquirer, its group entities and related affiliates must not directly or indirectly influence the target enterprise or its affiliates.
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Provisions expressly mentioned in the judgment/order text.
Exercise of rights on acquisition: limited economic benefits and voting restricted to insolvency matters, with influence prohibition.
Regulates exercise of rights by an acquirer where notice under clause (a) of section 6A is required for open offer or stock exchange acquisitions: the acquirer may avail economic benefits such as dividends, distributions, rights issue subscriptions, bonus shares, stock-splits and buy-backs; voting rights are limited to liquidation and insolvency matters; and the acquirer, its group entities and related affiliates must not directly or indirectly influence the target enterprise or its affiliates.
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