https://www.taxtmi.com/notifications?id=133376 Regulation 17 now requires that where an indirect acquisition prompts a public announcement under clause (e) of sub regulation (2) of regulation 13, the acquirer must deposit an amount equivalent to one hundred per cent of the open offer consideration into escrow and is prohibited from depositing securities for such acquisitions. Regulation 18 gains sub regulation (11A) obliging the acquirer to pay interest on delayed payments for accepted open offer shares at ten per cent per annum, subject to possible waiver by the Board if delay is not the acquirer's fault; regulation 22's language excluding bulk or block deals is removed. en-us Wed, 01 Jul 2020 00:00:00 +0530 Thu, 02 Jul 2020 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=133376 Regulation 17 now requires that where an indirect acquisition prompts a public announcement under clause (e) of sub regulation (2) of regulation 13, the acquirer must deposit an amount equivalent to one hundred per cent of the open offer consideration into escrow and is prohibited from depositing securities for such acquisitions. Regulation 18 gains sub regulation (11A) obliging the acquirer to pay interest on delayed payments for accepted open offer shares at ten per cent per annum, subject to possible waiver by the Board if delay is not the acquirer's fault; regulation 22's language excluding bulk or block deals is removed. Notifications SEBI Wed, 01 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=133376