https://www.taxtmi.com/caselaws?id=110235 The court held that the Take Over Code imposes different consequences for breaches under Chapter II and Chapter III. Non-compliance with Chapter II attracts penalties but does not invalidate the acquisition, while acquisition under Chapter III without public announcement is deemed invalid. The court directed the company to buy back the appellants' shares or delete their names from the Shareholder Register, maintaining the section 397 proceeding and continuing the interim injunction for a fortnight to facilitate share transfer. The appeal succeeded, setting aside the Company Law Board's order of forfeiture without costs. en-us Fri, 15 Oct 2004 00:00:00 +0530 Sat, 14 Apr 2012 13:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110235 The court held that the Take Over Code imposes different consequences for breaches under Chapter II and Chapter III. Non-compliance with Chapter II attracts penalties but does not invalidate the acquisition, while acquisition under Chapter III without public announcement is deemed invalid. The court directed the company to buy back the appellants' shares or delete their names from the Shareholder Register, maintaining the section 397 proceeding and continuing the interim injunction for a fortnight to facilitate share transfer. The appeal succeeded, setting aside the Company Law Board's order of forfeiture without costs. Case-Laws Companies Law Fri, 15 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110235