Corporate Professionals Blog

Regulation 10 of SEBI (SAST) Regulations, 2011 (SEBI Takeover Code) provides the provisions relating to automatic exemption to the acquirer from complying with the provisions of regulation 3 and 4 of the SEBI Takeover Code requiring Open Offer be made to the shareholders of the Target Company subject to the compliance of the conditions as prescribed thereunder. An analysis of the provision relating to exemption available in case of increase in voting rights pursuant to a scheme of arrangement as contained in regulation 10(1)(d) is detailed below:

Celebrations are taking place around the World to mark the start of 2015. We are on a welcome note of another new beginning with an excitement, high anticipation and expectation for the months to come. The beginning of a new year can get you inspired to make changes and to do things differently. Ms. Mohini Varshney Assistant Vice President +919971673332 mohini@indiacp.com Even in Indian context and from a commercial perspective, bang is expected in the economic activities in the country under the charge of the new elected government of Shri Modi. In a recent article, World Bank said that, ‘ Indian economy, which accounts for 80% of South Asia’s output, is set to grow by 6.4% in 2015-16 as against 5.6% in the year 2014-15. India is benefiting from a “Modi Dividend”' , the Bank said. Even from the human resource angle, according to various researches and reports, it is expected that there will be an increase in jobs and work opportunities this year. According to r...

Facts:  The present appeal is filed by M/s.Gulab Impex Enterprises Limited (“Appellant”) against the initiation of Adjudication proceeding by SEBI and imposed a penalty of Rs. 9,00,000 for violation of Regulation 8(3) of SEBI (SAST) Regulations, 1997 instead of favourably considering the consent application for an amicable resolution of the issue.