https://www.taxtmi.com/notifications?id=130407 The amendment exempts increases in a shareholder's voting rights beyond takeover thresholds caused solely by conversion of superior voting shares into ordinary shares, absent acquisition of control, from the open offer obligation; expands the definition of encumbrance to cover restrictions on marketable title, pledge, lien, negative lien, non-disposal undertakings and any covenant or arrangement in the nature of encumbrance; and requires promoters to annually declare, within seven working days after year-end, to listed stock exchanges and the audit committee that no undisclosed encumbrances were created during the financial year. en-us Mon, 29 Jul 2019 00:00:00 +0530 Thu, 01 Aug 2019 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=130407 The amendment exempts increases in a shareholder's voting rights beyond takeover thresholds caused solely by conversion of superior voting shares into ordinary shares, absent acquisition of control, from the open offer obligation; expands the definition of encumbrance to cover restrictions on marketable title, pledge, lien, negative lien, non-disposal undertakings and any covenant or arrangement in the nature of encumbrance; and requires promoters to annually declare, within seven working days after year-end, to listed stock exchanges and the audit committee that no undisclosed encumbrances were created during the financial year. Notifications SEBI Mon, 29 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=130407