Takeover Code

[Ashok Kumar]

Dear Frnds

As per SEBI takeover code, Promoter group cannot acquire more than 5 % from a public in a year ,whether this applies 

a) Acquisition between promoter group ie., Transfer of shares from one promoter to another promoter ??

b) If a public shareholder who is also a immediate relative of one promoter ,  can that promoter acquire more than 5% without PA ??

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Regards

ASHOK KUMAR 

[Sandeep Kulkarni]

Dear Ashok,

General Exemption u/regn 10 has been given in detail.

Immediate relative has an exemption,
Interse transfer between promoters, come under exemption if & only if the acquirer transferee promoter is show a promoter or promoter group in the shareholding patter u/c-35 of listing agrmeent since last 3 FY to Stock exchange where the shares are listed.

Also general exemption to broker, TM etc are also given,

To escape the PA of OO u need to study under which regn u can get exemptionn.

Any mismatch will draw hefty penalties., Be cautious.

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