Transmission under takeover code -1997

1) Yes, the said transaction falls within regulation 3(1)g of Takeover Code 1997 and accordingly is an exempt transaction. therefore even though the treshold crosses 15% it would not trigger open offer.                                                                                                                              2) The said trustee would be requested to file initial discolure under regulation 7(1) in this regard. Regulation 3(4) covers transaction under 3(1) a, b e and i and hence no Board report is required in this case. Secondly, kindly check depending on year of acquisition, if any transitional provisions were also required. Also, necessary disclosures under Insider trading Regulations be made.                                                                                                                                  3) Takeover is applicable to cases of transmission, inheritence but they are generally exempted from making open offer.                                                                                                   ##Please ensure that the name of said trustee is included in Promoter/promoter group of the Target Company