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Company Exceeds 55% Shareholding Limit; Section 11 Breach Deemed Unintentional, Penalty Reduced Under Takeover Regulations, 1997.

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....Increase of shareholding beyond 55% - violation of Section 11 of the Takeover Regulations, 1997 - the default is inadvertent, technical and, in any case, unintentional - quantum of penalty reduced.....

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