https://www.taxtmi.com/acts?id=33708 Schedule XX requires promoters or controlling shareholders to make an exit offer to dissenting shareholders when a prescribed dissent threshold is met and proceeds utilisation falls below a specified proportion. The exit price is the highest of defined acquisition- and market-based benchmarks or a valuation where shares are not frequently traded. Procedural steps include disclosure in meeting notice and explanatory statement, stock exchange notification and dissemination, appointment of a SEBI-registered merchant banker, creation of an escrow with deposit of consideration before tendering, a defined tendering period with withdrawal rights, settlement via stock exchange mechanisms, prompt payment to accepted dissenting shareholders, post-offer disclosures, and measures to ensure compliance with maximum non-public shareholding limits. en-us Fri, 21 Dec 2018 16:10:27 +0530 Thu, 13 Mar 2025 11:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=33708 Schedule XX requires promoters or controlling shareholders to make an exit offer to dissenting shareholders when a prescribed dissent threshold is met and proceeds utilisation falls below a specified proportion. The exit price is the highest of defined acquisition- and market-based benchmarks or a valuation where shares are not frequently traded. Procedural steps include disclosure in meeting notice and explanatory statement, stock exchange notification and dissemination, appointment of a SEBI-registered merchant banker, creation of an escrow with deposit of consideration before tendering, a defined tendering period with withdrawal rights, settlement via stock exchange mechanisms, prompt payment to accepted dissenting shareholders, post-offer disclosures, and measures to ensure compliance with maximum non-public shareholding limits. Act-Rules SEBI Fri, 21 Dec 2018 16:10:27 +0530 https://www.taxtmi.com/acts?id=33708