Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2020 - SEBI/LAD-NRO/GN/2020/14 - SEBI
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Promoter voting rights acquisition temporarily permitted via preferential issue, enabling increased stake without triggering open offer requirements until specified deadline. The amendment authorises a promoter to acquire voting rights beyond the five percent threshold up to a temporary higher limit when the acquisition results from a preferential issue of equity shares by the target company for the financial year 2020-21, and clarifies that the relaxation in regulation 6's first proviso is available only until March 31, 2021.
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.
Promoter voting rights acquisition temporarily permitted via preferential issue, enabling increased stake without triggering open offer requirements until specified deadline.
The amendment authorises a promoter to acquire voting rights beyond the five percent threshold up to a temporary higher limit when the acquisition results from a preferential issue of equity shares by the target company for the financial year 2020-21, and clarifies that the relaxation in regulation 6's first proviso is available only until March 31, 2021.
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