https://www.taxtmi.com/caselaws?id=380209 The appellant challenged the order directing a public announcement to acquire shares of the target company due to an inter se transfer of shares between promoters. The Whole Time Member (WTM) concluded that the acquisition triggered an open offer as the acquisition price exceeded the exempted limit under the Takeover Regulations. The WTM's decision was based on the principle that in cases of violation of Takeover Regulations, the normal rule is to direct the entity to make a public offer. The Tribunal allowed the appeal partly, setting aside the order for a public announcement and directing the appellant to transfer shares and deposit a specific amount to the Fund instead. en-us Wed, 01 May 2019 00:00:00 +0530 Wed, 15 May 2019 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380209 The appellant challenged the order directing a public announcement to acquire shares of the target company due to an inter se transfer of shares between promoters. The Whole Time Member (WTM) concluded that the acquisition triggered an open offer as the acquisition price exceeded the exempted limit under the Takeover Regulations. The WTM's decision was based on the principle that in cases of violation of Takeover Regulations, the normal rule is to direct the entity to make a public offer. The Tribunal allowed the appeal partly, setting aside the order for a public announcement and directing the appellant to transfer shares and deposit a specific amount to the Fund instead. Case-Laws SEBI Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380209