Sebi Take over code

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BISWARANJAN SUBUDHI

BISWARANJAN SUBUDHI (Querist)
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19 August 2009 When it is required to give disclosure by non-promoter under Sebi Take over code?

CS SIDDHARTHA BANIK

CS SIDDHARTHA BANIK (Expert)
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19 August 2009 1.Any acquirer who acquires shares or voting rights(VR) which (taken together with the shares already held) would entitle him to more than 5 % or 10% or 14% or 54% or 74% shares or voting right in a company- shall disclose his shareholding to the Company and to the Stock Exchange at every stage.

2.Every acquire, as above, shall disclose to the co.and to the SE any purchases or sale effecting 2% or more Share Capital of the target Co.

3.every person as mentioned above who holds more than 15% shares or VR shall disclose his holding to the co. within 21 days of the financial year ending 31st March.

regards
CS Siddhartha Banik