https://www.taxtmi.com/news?id=34109 Sebi declined permission for a competing open offer for Religare Enterprises, finding the applicant lacked demonstrable financial ability and procedural compliance. The regulator cited failure to deposit funds as directed by prior judicial orders, absence of requisite regulatory approvals, inadequate due diligence and KYC by the applicant's merchant banker, and concluded the application appeared not bona fide but aimed at disrupting the ongoing open offer, which would prejudice tendering shareholders and the incumbent bidder. en-us Fri, 14 Feb 2025 19:16:04 +0530 Fri, 14 Feb 2025 19:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=34109 Sebi declined permission for a competing open offer for Religare Enterprises, finding the applicant lacked demonstrable financial ability and procedural compliance. The regulator cited failure to deposit funds as directed by prior judicial orders, absence of requisite regulatory approvals, inadequate due diligence and KYC by the applicant's merchant banker, and concluded the application appeared not bona fide but aimed at disrupting the ongoing open offer, which would prejudice tendering shareholders and the incumbent bidder. News - Fri, 14 Feb 2025 19:16:04 +0530 https://www.taxtmi.com/news?id=34109