https://www.taxtmi.com/caselaws?id=113493 The SC allowed the appeals, holding the acquirer's offer price of Rs.113.62 per share was fairly and lawfully calculated and setting aside the Appellate Tribunal's contrary decision. The Court construed regulation 20(12) to require offering shareholders the better of values on the parent and indirect-target announcement dates, and clarified that "persons acting in concert" is determined by whether the other party was acting in concert at the time of its share purchases, not necessarily at the announcement date. Earlier separate purchases can be brought within the concept by a later express agreement. No order as to costs. en-us Thu, 08 Jul 2010 00:00:00 +0530 Thu, 28 Aug 2025 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113493 The SC allowed the appeals, holding the acquirer's offer price of Rs.113.62 per share was fairly and lawfully calculated and setting aside the Appellate Tribunal's contrary decision. The Court construed regulation 20(12) to require offering shareholders the better of values on the parent and indirect-target announcement dates, and clarified that "persons acting in concert" is determined by whether the other party was acting in concert at the time of its share purchases, not necessarily at the announcement date. Earlier separate purchases can be brought within the concept by a later express agreement. No order as to costs. Case-Laws Companies Law Thu, 08 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113493