CAN ANY ONE TELL ME IS THERE ANY PROCEDURE TO ACQUIRE SHARES UPTO 75% WITHOUT MAKING PUBLIC ANNOUNCEMENT.
WHAT DOES REGULATION 12 OF TAKEOVER CODE EXACTLY SAY.
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acquiring shares without public announcemnt procedure
Replies (1)
Dear Radha,
Go through the exemptions as provided under Regulation 3.
Regulations 12 provides that no Company can acquire 'Control' over a target without making a public announcement. However, if a resolution has been passed by the members of the target in this regard the requirement of public announcement can be waived with.
Regards,
Vikas
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