https://www.taxtmi.com/caselaws?id=310858 Takeover disclosure and public announcement obligations arise when an acquirer acquires or agrees to acquire shares carrying voting rights and crosses the prescribed threshold, even if the transfer has not yet been recorded in the company's register. Registration in the members' register affects the exercise of voting rights, not the existence of those rights for takeover compliance. On the facts noted, the acquisition attracted the disclosure and public announcement requirements, and the non-disclosure and failure to announce were established. The penalty for the violation was treated as reasonable because the adjudicating authority considered the relevant statutory factors and the sanction was within the permissible maximum. en-us Tue, 07 Apr 1998 00:00:00 +0530 Wed, 22 Nov 2023 17:00:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310858 Takeover disclosure and public announcement obligations arise when an acquirer acquires or agrees to acquire shares carrying voting rights and crosses the prescribed threshold, even if the transfer has not yet been recorded in the company's register. Registration in the members' register affects the exercise of voting rights, not the existence of those rights for takeover compliance. On the facts noted, the acquisition attracted the disclosure and public announcement requirements, and the non-disclosure and failure to announce were established. The penalty for the violation was treated as reasonable because the adjudicating authority considered the relevant statutory factors and the sanction was within the permissible maximum. Case-Laws SEBI Tue, 07 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310858