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Failure of the offer
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....) of regulation 21 of these regulations. Explanation,- If a counter offer has been made by the acquirer in terms of sub-regulation (4) of regulation 22 of these regulations, the failure of the said counter offer shall be considered in accordance with clause (a); or (b) the price discovered through the reverse book building process is rejected by the acquirer. (2) In case of fa....
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....process is rejected by the acquirer; (iii) in accordance with Schedule IV of these regulations if a counter offer has been made by the acquirer: Provided that the acquirer shall not be required to return the shares if the offer is made pursuant to regulation 5A of Takeover Regulations. (b) the expenses relating to the offer for delisting shall be borne by the acquirer. ....
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....ounter offer as provided under Schedule IV of these regulations. (3) Nothing contained in clause (c) of sub-regulation (2) shall be applicable to the delisting of equity shares made by a new promoter(s) pursuant to the re-classification in terms of the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 or a new acquirer(....