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Report to SEBI in respect of any acquisition made in reliance up on exemption provided for in regulation 10(1)(d)(iii) of SEBI (SAST) Regulations, 2011

Format of Report to SEBI in respect of any acquisition made in reliance up on exemption provided for in regulation 10(1)(d)(iii) of SEBI (SAST) Regulations, 2011

SEBI: Regulation 10(1)(d)(iii) of SEBI (SAST) Regulations, 2011

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This document contains editable Format of Report to SEBI in respect of any acquisition made in reliance up on exemption provided for in regulation 10(1)(d)(iii) of SEBI (SAST) Regulations, 2011, making it handy for use and compliance.

Additional Information

Regulation 10(1)(d)(iii) of SEBI (SAST) Regulations, 2011

10. (1) The following acquisitions shall be exempt from the obligation to make an open offer under regulation 3 and regulation 4 subject to fulfillment of the conditions stipulated therefore,— 

d. acquisition pursuant to a scheme,—

(iii) of arrangement not directly involving the target company as a transferor company or as a transferee company, or reconstruction not involving the target company’s undertaking, including amalgamation, merger or demerger, pursuant to an order of a court or a competent authority under any law or regulation, Indian or foreign, subject to,—

             A. the component of cash and cash equivalents in the consideration paid being less than twenty-five per cent of the consideration paid under the scheme; and

B. where after implementation of the scheme of arrangement, persons directly or indirectly holding at least thirty-three per cent of the voting rights in the combined entity are the same as the persons who held the entire voting rights before the implementation of the scheme.

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Report to sebi in respect of any acquisition made in reliance up on exemption provided for in regulation 10(1)(d)(iii) of sebi (sast) regulations