https://www.taxtmi.com/caselaws?id=105500 Section 108A was read to cover not only completed share acquisitions but also a concerted decision to acquire shares beyond the statutory threshold, so prior Central Government approval could be required at the stage of agreement to acquire. Breach of regulation 7 of the Takeover Regulations was treated as not invalidating the acquisition and as attracting, at most, penal consequences. "Sufficient cause" under section 111A(2) was held to be broader than the listed grounds in section 111A(3) and could include contractual constraints, such as a likely breach of existing obligations affecting the company. Because the date of acquisition and the scope of the alleged technology-related contractual restrictions were not clearly established, the matters required remand for further evidence. en-us Thu, 16 Aug 2001 00:00:00 +0530 Mon, 05 Mar 2012 18:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105500 Section 108A was read to cover not only completed share acquisitions but also a concerted decision to acquire shares beyond the statutory threshold, so prior Central Government approval could be required at the stage of agreement to acquire. Breach of regulation 7 of the Takeover Regulations was treated as not invalidating the acquisition and as attracting, at most, penal consequences. "Sufficient cause" under section 111A(2) was held to be broader than the listed grounds in section 111A(3) and could include contractual constraints, such as a likely breach of existing obligations affecting the company. Because the date of acquisition and the scope of the alleged technology-related contractual restrictions were not clearly established, the matters required remand for further evidence. Case-Laws Companies Law Thu, 16 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105500