June 23, 2020
Summary of the notification issued by SEBI on 22/06/2020
SEBI relaxes ICDR and Takeover norms with respect to fund raising by Distressed Companies
Through this amendment preferential issue by Distressed Companies is exempt from making Open offer under 3(1) and 4 of Takeover Code if they comply with disclosure and end-use utilization specified in regulation 164A of the SEBI (ICDR) Regulations, 2018.
This notification is integrated in our free-to-use website ca2013.com for quick reference.