Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Fourth Amendment) Regulations, 2015. - SEBI/LAD-NRO/GN/2015-16/026 - SEBI
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Increase in voting rights from share forfeiture or statutory operation treated as triggering takeover obligations. An amendment to Regulation 10(1) adds that an increase in voting rights arising from operation of the Companies Act or from forfeiture of shares by the target company, when undertaken in compliance with the Companies Act, 2013 and the company's articles of association, will be treated for the purposes of the Substantial Acquisition and Takeovers 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.
Increase in voting rights from share forfeiture or statutory operation treated as triggering takeover obligations.
An amendment to Regulation 10(1) adds that an increase in voting rights arising from operation of the Companies Act or from forfeiture of shares by the target company, when undertaken in compliance with the Companies Act, 2013 and the company's articles of association, will be treated for the purposes of the Substantial Acquisition and Takeovers Regulations.
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