https://www.taxtmi.com/acts?id=34397 An acquirer must create an escrow account before the detailed public statement and deposit a prescribed portion of the consideration in cash, bank guarantee, or approved securities; non-cash deposits require a minimal cash component. The manager to the open offer must be empowered to instruct payments and realise securities, with bank guarantees kept valid through the offer period and shortfall liability on the manager. Escrow amounts must be adjusted for revisions to offer price or size and may be released or forfeited only in specified circumstances, including transfer to a special escrow account and Board-directed forfeiture. en-us Fri, 04 Jan 2019 17:57:32 +0530 Thu, 29 Aug 2024 17:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=34397 An acquirer must create an escrow account before the detailed public statement and deposit a prescribed portion of the consideration in cash, bank guarantee, or approved securities; non-cash deposits require a minimal cash component. The manager to the open offer must be empowered to instruct payments and realise securities, with bank guarantees kept valid through the offer period and shortfall liability on the manager. Escrow amounts must be adjusted for revisions to offer price or size and may be released or forfeited only in specified circumstances, including transfer to a special escrow account and Board-directed forfeiture. Act-Rules SEBI Fri, 04 Jan 2019 17:57:32 +0530 https://www.taxtmi.com/acts?id=34397