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- Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2013 SEBI vide notification dated March 26, 2013 has made the following amendments in SEBI (SAST) Regulations, 2011:
Clarification on reckoning the period of ninety days in case of increase of voting rights due to buyback by Target Company.
Relevant date for making Public Announcement in case of preferential allotment.
Relevant date for making public announcement in case of combined modes of acquisition
Norms for completion of acquisition through preferential allotment and stock exchange settlement process.
Newly inserted Regulation 22(2A):
Newly inserted proviso to Regulation 23(1)(c):
Amendment of Regulation 29(2):
SEBI issued circular No.CIR/MRD/DP/10/2013 dated March 21, 2013 directed for usage of electronic payment modes (Electronic Clearing Service (ECS), National Electronic Clearance Service (NECS) and National Electronic Fund Transfer (NEFT) as the payment systems approved by the RBI for making cash payments to the investors and maintainenance of requisite bank details of their investors.