Exit offer requirement for dissenting shareholders when objects change or contract terms vary; promoters must provide mechanism. Promoters or shareholders in control must provide an exit offer to dissenting shareholders under the Companies Act when there is a change in the issuer's objects or variation in contract terms related to the objects disclosed in the offer document, in the conditions and manner provided in Schedule XX; the obligation does not apply where there are neither identifiable promoters nor shareholders in control.
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.
Exit offer requirement for dissenting shareholders when objects change or contract terms vary; promoters must provide mechanism.
Promoters or shareholders in control must provide an exit offer to dissenting shareholders under the Companies Act when there is a change in the issuer's objects or variation in contract terms related to the objects disclosed in the offer document, in the conditions and manner provided in Schedule XX; the obligation does not apply where there are neither identifiable promoters nor shareholders in control.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
