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Takeover Panel.

..... the purposes of this regulation constitute a panel of majority of independent persons from within the categories mentioned in sub-section (5) of section 4 of the Act. (2) For seeking exemption under clause (1) of sub-regulation (1) of regulation 3, the acquirer shall file an application 1[supported by a duly sworn affidavit] with the Board, giving details of the proposed acquisition and the ground .....

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..... hin 30 days thereof. (7) The order of the Board under sub-regulation (6) shall be published by the Board. - Notes: 1. Inserted by the SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2002, w.e.f. 9-9-2002. 2. Substituted for one lakh rupees by the SEBI (Payment of Fees) (Amendment) Regulations, 2008, w.e.f. 1-4-2008. Prior to its substitution, the words were a .....

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