{"id":79446,"date":"2020-02-04T10:34:21","date_gmt":"2020-02-04T10:34:21","guid":{"rendered":"http:\/\/blastingskyhawk.com\/?p=79446"},"modified":"2020-02-04T10:34:24","modified_gmt":"2020-02-04T10:34:24","slug":"sebi-makes-accommodation-for-delay-in-open-offers-due-to-disputes","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/sebi-makes-accommodation-for-delay-in-open-offers-due-to-disputes\/","title":{"rendered":"Sebi makes accommodation for delay in open offers due to disputes"},"content":{"rendered":"\n<p>In the wake of Fortis Healthcare Ltd&#8217;s pending open offer the market regulator proposed changes in its takeover code. Under the proposed norms, Securities and Exchange Board of India suggested that a 10% interest should be added to the open offer price if the offer is delayed due to disputes such as ones relating to valuation, related parties, investor complaints, delay in payments by the acquirer among others.<\/p>\n\n\n\n<p>In discussion paper issued on Monday, the regulator acknowledged that the code had provisions related to delay in regulatory approvals but was silent in addressing delays when it came to other disputes in other judicial forums.<\/p>\n\n\n\n<p>The regulator also proposed to allow completion of open offer acquisition of shares through stock exchange settlement for all types of transactions, including bulk deals and block deals. By which the acquirer will be able to directly acquire significant stake in the target company through stock exchanges instead of negotiating through the off-market route.<\/p>\n\n\n\n<p>In case of indirect acquisitions, 100% of the open offer amount must be deposited two days before the announcement in escrow account.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>In the wake of Fortis Healthcare Ltd&#8217;s pending open offer the market regulator proposed changes in its takeover code. Under the proposed norms, Securities and Exchange Board of India suggested that a 10% interest should be added to the open offer price if the offer is delayed due to disputes such as ones relating to [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":79447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-79446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/79446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=79446"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/79446\/revisions"}],"predecessor-version":[{"id":79448,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/79446\/revisions\/79448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/79447"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=79446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=79446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=79446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}