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TMI BlogCompletion of acquisitionX X X X Extracts X X X X X X X X Extracts X X X X ..... s attracting the obligation to make an open offer for acquiring shares, until the expiry of the offer period: 5[Provided that in case of an offer made under sub-regulation (1) of regulation 20 of these regulations, pursuant to a preferential allotment, the offer shall be completed within the period as provided under sub-regulation (1) of regulation 170 of the Securities and Exchange Board of Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rrevocable bank guarantee issued in favour of the manager to the open offer by any scheduled commercial bank, subject to the approval of the Reserve Bank of India,] of an amount equal to 2[the entire] consideration payable under the open offer assuming full acceptance of the open offer, the parties to such agreement may after the expiry of twenty-one working days from the date of detailed public s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uire shares of the target company through preferential issue or through the stock exchange settlement process, 4[****] subject to ,- (i) such shares being kept in an escrow account, (ii) the acquirer not exercising any voting rights over such shares kept in the escrow account: Provided that such shares may be transferred to the account of the acquirer, subject to the acquirer complying with r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs) (Second Amendment) Regulations, 2018, w.e.f. 11-09-2018. Prior to this, it read as "one hundred per cent of the". 3 Inserted by the SEBI(Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2013, w.e.f. 26-03-2013. 4. Omitted vide Notification No. SEBI/LAD-NRO/GN/2020/20 dated 01-07-2020 before it was read as "other than through bulk deals or block deals," 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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