https://www.taxtmi.com/caselaws?id=303278 Persons acting in concert under the 1997 takeover regime were required to be assessed as a single unit for regulation 10, so the group's collective holding was the relevant benchmark and no violation of the public announcement threshold was made out. The same promoter group, however, crossed the 5% creeping acquisition limit under regulation 11(1) through warrant conversions on the same day, constituting a technical breach. In view of prior disclosure, continued promoter control, shareholder approval, and delay in proceedings, an open-offer direction was found unnecessary and was replaced by a monetary penalty. en-us Wed, 19 Jun 2013 00:00:00 +0530 Tue, 12 Jul 2022 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303278 Persons acting in concert under the 1997 takeover regime were required to be assessed as a single unit for regulation 10, so the group's collective holding was the relevant benchmark and no violation of the public announcement threshold was made out. The same promoter group, however, crossed the 5% creeping acquisition limit under regulation 11(1) through warrant conversions on the same day, constituting a technical breach. In view of prior disclosure, continued promoter control, shareholder approval, and delay in proceedings, an open-offer direction was found unnecessary and was replaced by a monetary penalty. Case-Laws SEBI Wed, 19 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303278