Public offer requirement relaxation allowed for statutory corporations after Central Government approval and stock exchange consent. A recognised stock exchange may relax the requirement that at least twenty five per cent of each class or kind of securities be offered to the public for a body corporate constituted by an Act of Parliament or State Legislature, provided it obtains the previous approval of the Central Government and complies with such instructions as the Government may issue from time to time.
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.
Public offer requirement relaxation allowed for statutory corporations after Central Government approval and stock exchange consent.
A recognised stock exchange may relax the requirement that at least twenty five per cent of each class or kind of securities be offered to the public for a body corporate constituted by an Act of Parliament or State Legislature, provided it obtains the previous approval of the Central Government and complies with such instructions as the Government may issue from time to time.
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 
