Open offer exemptions – Order of a Court or Competent Authorities

Regulation 10(1)(d)(ii) and (iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 exempts acquirers from open offer obligations in cases where acquisitions happen through schemes of arrangement undertaken pursuant to an order of an Indian or foreign court, tribunal, or competent authority. In a peculiar informal guidance released on October 30, in the matter…

Control + Alt + Delete for Promoters : Views on the Insolvency Ordinance

[This article has been written by Sandeep Parekh, Managing Partner, Finsec Law Advisors, and published in Financial Express on November 28, 2017] The greatest philosopher, who almost no one has read, Immanuel Kant, spoke about the categorical or moral imperative. He discussed the imperative as a principle of reason, which was an unconditional obligation to…

SEBI Board Meeting in September, 2017: REITs and InvITs

In the board meeting on September 18, 2017, SEBI has approved the following revisions to the Real Estate Investment Trust Regulations (REIT Regulations) and Infrastructure Investment Trust Regulations (InvIT Regulations): Allowed to raise debt capital: The REIT and InvIT Regulations provide that the aggregate consolidated borrowings and deferred payments shall not exceed 49% of the…

© Finsec Law Advisors | 2017
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