Take over code

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2013 "Company 'A' is a listed company. The X Family is a promoter of Company 'A' and along with friends and relatives, collectively owns 35% of the equity capital of the said company.

Mr. X, the patriarch of the X fmly holds 24.5% of the equity shares of Company 'A'.

The X fmly desires to consolidate all holdings in the hands of M\r. X, who wolud in turn form a company cld X Ltd. to which he would transfer all the shares and in which he would hold 100% of the equity share capital .

X fmly has approached you to explain any implications of the Takeover Regulations. They do not want such a restructuring of a fmly holdeing to triggfer an open offer.

Please advise fmly X on how they can achiever thier objective."

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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13 May 2013 Very simple. Let the holding of Mr. X and group be purchased at market price by X Ltd. and one of the directors of X Ltd can be a director in A Limited as representative.