Authorised dealer guarantees permitted for non-resident acquisitions, subject to SEBI(SAST) compliance and bank counter-guarantee and tenure co-terminus with offer period. An authorised dealer in India may give a guarantee on behalf of a person resident outside India acquiring shares or convertible debentures through open offers, delisting or exit offers provided the transaction complies with SEBI (SAST) Regulations, the guarantee is covered by a counter guarantee of a bank of international repute, and the guarantee is valid for a tenure co terminus with the offer period required under SEBI (SAST) Regulations.
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.
Authorised dealer guarantees permitted for non-resident acquisitions, subject to SEBI(SAST) compliance and bank counter-guarantee and tenure co-terminus with offer period.
An authorised dealer in India may give a guarantee on behalf of a person resident outside India acquiring shares or convertible debentures through open offers, delisting or exit offers provided the transaction complies with SEBI (SAST) Regulations, the guarantee is covered by a counter guarantee of a bank of international repute, and the guarantee is valid for a tenure co terminus with the offer period required under SEBI (SAST) Regulations.
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