July 28, 2020
Summary of the circular issued by SEBI on 27/07/2020
SEBI further extends the relaxation relating to procedural matters on Takeovers and Buy-back due to CoVID-19 pandemic pertaining to open offers and buy-back tender offers opening upto December 31, 2020
Through this circular, SEBI has extended the relaxations granted with respect to service of the letter of offer and/or tender form and other offer related material to shareholders, which may be undertaken by electronic transmission as already provided under Regulation 18(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and Regulation 9(ii) of SEBI (Buy-back of securities) Regulations, 2018, vide its earlier circular dated 14/05/2020, and it shall now be applicable to open offers and buy-back tender offers opening up to December 31, 2020 (as against the earlier deadline of July 31,2020).
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