TaxTMI 
TaxTMI 
Exemption application under Regulation 11 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
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....) of SAST Regulations, the acquirer shall file an application with the Board, supported by a duly sworn affidavit, giving details of the proposed acquisition and the grounds on which the exemption has been sought. 2. In order to ensure uniformity of disclosures in such applications, it has been decided to provide a standard format for filing of application with SEBI. The instructions and details in this regard are given at Annexure - A. 3. This circular shall be applicable to all the applications that are filed with SEBI after the date of this circular. 4. This circular is issued in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992. 5. This circular is....
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....he information given in the application should be as of the date of application unless otherwise specified therein. II. General Details 1. Date of the application: 2. Name, PAN and address of the acquirer(s) and PACs (including telephone number, email etc.) 3. If the applicant is a person other than the acquirer, then state name, address, telephone number, email etc., of the applicant and state whether letter of authority given by the acquirer and persons acting in concert, is enclosed. 4. State the details of the filing fees as specified in regulation 11(4) of the SAST Regulations. 5. State whether the acquirer/ PACs are part of the promoter/ promoter group. 6. If any application was filed under regulation 11(1) of SAS....
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....al equity share capital / voting rights of the target company before and after the proposed acquisition. State the following financial parameters of the target company for the immediately preceding financial year I. Net-worth - Rs.......... II. Book value per equity share - Rs. III. Return on Net-worth % IV. Earnings per share - Rs. 6. Name of Stock Exchanges where shares of Target Company are listed / permitted to trade and the date of listing. 7. Indicate opening and closing prices of its shares as on a date prior to the date of the application. 8. Clarify whether the shares of the target company are frequently or infrequently traded in terms of regulation 2(j) of SAST Regulations, taking the d....
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....sp; Public Total 6. State which provision(s) of SAST Regulations would be triggered on account of the proposed acquisition. 7. If the proposed acquisition would result into change of control of the target company, the manner and relevant details of such acquisition of control inter- alia details like nature of approvals required for such acquisition, status of such approvals, etc. shall be furnished. 8. Detailed grounds for seeking exemption 9. Details of relevant precedence, if any Schedule Cases involving Trust as acqu....
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....ights held by Trust shall be disclosed within 2 days to the concerned stock exchanges with a copy endorsed to SEBI for its record; vii. As far as the provisions of the SEBI Act and the regulations framed thereunder are concerned the ownership or control of shares or voting rights will be treated as vesting not only with the Trustees but also indirectly with the beneficiaries ; viii. The liabilities and obligations of individual transferors under the SEBI Act and the regulations framed thereunder will not change or get diluted due to transfers to the Trust ; ix. The Trust shall confirm, on an annual basis, that it is in compliance with the exemption order passed by SEBI. The said confirmation shall be furnished to ....