Sebi Takeover Code
List of Abbreviations
➢ CLB: Company law Board ➢ Comp Cas: Company Cases ➢ Comp L J: Company Law Journal ➢ FAQ: Frequently Asked Questions ➢ Ltd: Limited ➢ PA: Public Announcement ➢ PAC: Persons Acting in Concert. ➢ QB: Queens Bench ➢ Reg: Regulation ➢ Rs.: Rupees ➢ SEBI: Security and Exchange Board of India ➢ Sec: Section ➢ Spl.: Special ➢ UK: United Kingdom ➢ v: Versus
Research Methodology
This is to specify that the research methodology adopted throughout the project is doctrinal. Materials have been referred to in general sense. The sources for the project consist of on are Articles, Books, Internet Sources, and Magazines. My experience and my observations in this aspect are an integral part of this project.
Introduction and Scope of Project
Takeover is a well accepted corporate strategy for growth and expansion. It has been a very appealing instrument, as the only need for a takeover is to be financially sound. Further it is also a lucrative instrument to persons other than a company, which wants to make it big. They have now become a part and parcel of modern corporate scenario. There exists an ever innovating world of takeovers which consists of acquisition, takeovers and defences to such takeovers.
In this project, the researcher has tried to provide an overview the takeover law, with specific reference to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The project starts with distinction between mergers and acquisitions. Then it moves on to discuss basic concepts of takeovers and acquisitions, like history, kinds, consideration, etc. after that it discusses the United Kingdom’s position with respect to Takeovers. Then, the Indian Scenario is discussed. Here, the specific importance is given to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 with
➢ CLB: Company law Board ➢ Comp Cas: Company Cases ➢ Comp L J: Company Law Journal ➢ FAQ: Frequently Asked Questions ➢ Ltd: Limited ➢ PA: Public Announcement ➢ PAC: Persons Acting in Concert. ➢ QB: Queens Bench ➢ Reg: Regulation ➢ Rs.: Rupees ➢ SEBI: Security and Exchange Board of India ➢ Sec: Section ➢ Spl.: Special ➢ UK: United Kingdom ➢ v: Versus
Research Methodology
This is to specify that the research methodology adopted throughout the project is doctrinal. Materials have been referred to in general sense. The sources for the project consist of on are Articles, Books, Internet Sources, and Magazines. My experience and my observations in this aspect are an integral part of this project.
Introduction and Scope of Project
Takeover is a well accepted corporate strategy for growth and expansion. It has been a very appealing instrument, as the only need for a takeover is to be financially sound. Further it is also a lucrative instrument to persons other than a company, which wants to make it big. They have now become a part and parcel of modern corporate scenario. There exists an ever innovating world of takeovers which consists of acquisition, takeovers and defences to such takeovers.
In this project, the researcher has tried to provide an overview the takeover law, with specific reference to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The project starts with distinction between mergers and acquisitions. Then it moves on to discuss basic concepts of takeovers and acquisitions, like history, kinds, consideration, etc. after that it discusses the United Kingdom’s position with respect to Takeovers. Then, the Indian Scenario is discussed. Here, the specific importance is given to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 with
Bibliography: ➢ Dr. Verma J. C. Mergers, Amalgamation and Takeovers (Concept, Practice ad Procedure). 5th edition. Bharat Law house. New Delhi. 2008. ➢ Hicks Andrew & S.H. Goo. Cases and Materials on Company Law. 5th edition. Oxford University Press. 2004 ➢ Ramaiya A., Guide to Company’s Act, Part II, Wadhwa & Company Nagpur 16th edition, reprint 2006 ➢ Singh Avtar, Company Law, fifteenth Edition, 2007 ➢ Sridharan & Pandian ➢ Companies Act, 1956 ➢ Listing Agreement ➢ Report of Bhagwati Committee. Retrieved from http://www.sebi.gov.in/Index.jsp?contentDisp=Section&sec_id=1 ➢ SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1994 ➢ Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ➢ Securities and Exchange Board of India, 1992 Case laws referred ➢ B.P.Amoco Plc v.SEBI (2001)34 SCL 469 (Bom) ➢ Bombay dyeing & Mfg. Co. Ltd. . Arun Kumar Bajoria (2001) 107 Comp Cas 535 (CLB) ➢ Far East Investment Ltd ➢ JM Financial and Investment Consultancy services ltd. v. Adjudicating Officer (2001) 30 SCL 357 (SAT) ➢ K.K.Modi v ➢ Kinsigton Investment Ltd. v. SEBI (2002) 40 SCL 170 (SAT) ➢ Mega Resources v ➢ Modi Spinning and Weaving Mills ltd. v. SEBI (2001) 34 SCL 816 (SAT) ➢ R v ➢ Sandip Save v. Chairman SEBI (2003) 41 SCL 47 (SAT) ➢ Sharad Doshi v ➢ Shrish Finance and Investment pvt. Ltd. v. Shreenivasalu Reddy (2002) Comp Cases 913 (bom) ➢ Zee Telefilms Ltd iii) Sridharan & Pandian. Guide to Takeovers and Mergers. 2nd Edition. Wadhwa & Company. Nagpur. 2006. iii) Sridharan & Pandian. Guide to Takeovers and Mergers. 2nd Edition. Wadhwa & Company. Nagpur. 2006. iii) Sridharan & Pandian. Guide to Takeovers and Mergers. 2nd Edition. Wadhwa & Company. Nagpur. 2006. iii) Sridharan & Pandian. Guide to Takeovers and Mergers. 2nd Edition. Wadhwa & Company. Nagpur. 2006. [7] R v. Panel on Takeovers and Mergers (1990)1 QB 146, court of appeal. iii) Sridharan & Pandian. Guide to Takeovers and Mergers. 2nd Edition. Wadhwa & Company. Nagpur. 2006. iii) Sridharan & Pandian. Guide to Takeovers and Mergers. 2nd Edition. Wadhwa & Company. Nagpur. 2006. [13] B.P.Amoco Plc v.SEBI (2001)34 SCL 469 (Bom) [14] Reg 2(o) [19] refer Shrish Finance and Investment pvt. Ltd. v. Shreenivasalu Reddy (2002) Comp Cases 913 (bom), Modi Spinning and Weaving Mills ltd. v. SEBI (2001) 34 SCL 816 (SAT), K.K.Modi v. SAT (2002) 35 SCL 230 (Bom) [20] Far East Investment Ltd [25] Zee Telefilms Ltd. v. Adjudicating and Enquiry Officer, SEBI (2003) 42 SCL 484 (SAT) [26] Reg