Tag: SEBI
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Acquisitions Beyond 75% Shares in a Company: SEBI’s No-Action Letter
[The following is a guest post from Yogesh Chande. Yogesh is a Consultant with Economic Laws Practice, Advocates & Solicitors. The views expressed by the author are personal.] Recently, the Corporation Finance Department of SEBI issued a “no-action letter” in terms of SEBI (Informal Guidance) Scheme, 2003 for proposed acquisition by the promoters/promoter group of the…
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Special Circumstances for Exemption from Takeover Offers
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Listing of Preference Shares and Perpetual Securities
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Review of Insider Trading Regulations
SEBI has constituted a committee to review its regulations on insider trading. The committee is chaired by Justice N.K. Sodhi, retired Chief Justice of the Karnataka High Court and former Presiding Officer of the Securities Appellate Tribunal (SAT). The review comes two decades after SEBI’s Insider Trading Regulations were enacted in 1992. The initial decade…
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Takeover Regulations: Computing Creeping Acquisition Limits
SEBI has published its informal guidance on a matter that delves into the mechanics of computing the creeping acquisition limit of 5% per year in a company whose share capital may have undergone changes during the same period. Aksh Optifibre Limited made an application on August 17, 2012 to SEBI to seek its informal guidance…
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Foreign Investment in Corporate Debt
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SEBI Adjudication Order: “Persons Acting in Concert”
Nearly three years ago, we had discussed SEBI’s initial order relating to trading of shares in Bank of Rajasthan (BoR). Last week, the adjudicating officer of SEBI has passed an order imposing a hefty penalty on 118 entities that traded in shares of for violation of the provisions of the SEBI Takeover Regulations and the…
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When a Rights Offering Becomes a Public Offering
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