Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2015 - SEBI-NRO/OIAE/GN/2015-16/004 - SEBI
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Conversion of debt into equity under Strategic Debt Restructuring now counts as acquisition, subject to ICDR compliance. The amendment treats conversion of debt into equity under the Strategic Debt Restructuring scheme as acquisition of equity shares by a consortium of banks, financial institutions and other secured lenders, and makes such acquisitions subject to compliance with the conditions specified in sub regulation (5) or (6) of regulation 70 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
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.
Conversion of debt into equity under Strategic Debt Restructuring now counts as acquisition, subject to ICDR compliance.
The amendment treats conversion of debt into equity under the Strategic Debt Restructuring scheme as acquisition of equity shares by a consortium of banks, financial institutions and other secured lenders, and makes such acquisitions subject to compliance with the conditions specified in sub regulation (5) or (6) of regulation 70 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
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