Search results
Results From The WOW.Com Content Network
After the Securities and Exchange Board of India (SEBI) became a statutory body with the power to issue subsidiary legislation under the SEBI Act 1992, the board promulgated the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1994 (colloquially, the "Takeover Code"), governing takeovers, including a mandatory bid rule.
In light of the global meltdown, it liberalized the takeover code to facilitate investments by removing regulatory structures. In one such move, SEBI has increased the application limit for retail investors to ₹ 200,000 (US$2,300) from ₹ 100,000 (US$1,200) at present. [23]
Securities and Exchange Board of India (SEBI) Banking Codes and Standards Board of India (BCSBI); Forward Markets Commission (FMC) Insolvency and Bankruptcy Board of India (IBBI) Insurance Regulatory and Development Authority (IRDAI) Pension Fund Regulatory and Development Authority (PFRDA) National Financial Reporting Authority (NFRA)
SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011: These regulations govern the acquisition of shares and takeovers of listed companies in India. They require acquirers to make certain disclosures and offer an open offer to minority shareholders in case of a change in control of a listed company.
The Securities and Exchange Board of India Act, 1992 is an act that was enacted for regulation and development of securities market in India. It was amended in the years 1995, 1999, and 2002 to meet the requirements of changing needs of the securities market.
A shareholder rights plan, colloquially known as a "poison pill", is a type of defensive tactic used by a corporation's board of directors against a takeover.. In the field of mergers and acquisitions, shareholder rights plans were devised in the early 1980s to prevent takeover bids by limiting a shareholder's right to negotiate a price for the sale of shares directly.
A Rule 3 adviser in the UK is a firm authorised, under the Takeover Code, to advise the shareholders of a company when there is an offer made for the company. [1]No person who is not so authorised may advise shareholders, especially minority shareholders, on the merits or otherwise of an offer or approach nor deal in the securities involved.
A takeover is considered hostile if the target company's board rejects the offer, and if the bidder continues to pursue it, or the bidder makes the offer directly after having announced its firm intention to make an offer. Development of the hostile takeover is attributed to Louis Wolfson. [3] A hostile takeover can be conducted in several ways.