SEBI clarifies timeline for draft letter of offer

0
767

The Securities and Exchange Board of India (SEBI) has revised the time period for which information is required to be filed in a draft letter of offer in accordance with the provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The amendment, brought about through a circular on 15 March, is designed to bring the requirement in line with the maintenance of records under the provisions of the Companies Act, 2013. The format and instructions for the draft letter of offer to SEBI have been modified accordingly.

 

The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bengaluru, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.