– Fees as mentioned in the Scheme shall be payable depending on date of filing of the forms.
– The scheme shall not apply to the situations mentioned in the said Circular.
2. SEBI introduces Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2020
Through this amendment, SEBI allows –
– acquisition beyond five per cent but upto ten per cent of the voting rights in the target company for the financial year 2020-21 only in respect of acquisition by a promoter pursuant to preferential issue of equity shares by the target company (Proviso to Regulation 3(2))
– the acquirer or any person acting in concert with him who has acquired shares of the target company in the preceding fifty-two weeks without attracting the obligation to make a public announcement of an open offer, to voluntarily make a public announcement of an open offer for acquiring shares under this regulation and this relaxation is valid till 31/03/2021 (Proviso to Regulation 6(1))
Aforesaid amendments are integrated in our free to use website www.ca2013.com