SEBI modifies timeline under Takeover Code
Published: Mar 16, 2017
By TIOLCORP News Service
MUMBAI, MAR 16, 2017: SEBI has issued a circular to modify the requirements of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 (‘SAST Regulations') to revise the time period for which information is required to be filed with SEBI, in line with the provisions relating to maintenance of records under the Companies Act, 2013. The format and instructions prescribed vide aforementioned Circular shall stand modified. Further, this circular shall be applicable to all the offers where the draft letter of offer is filed with SEBI after the date of this Circular. Merchant Bankers are advised to follow the said updated format and instructions while filing the draft letter of offer with SEBI.