• On 11 September 2018, SEBI issued further amendments to rules, to change wording.
• Revision shall come into force, on the date of their publication in official gazette.

Background

On 1 June 2018 , SEBI issued rules on acquiring shares and takeovers.

 

• Substantial acquisition of shares and takeovers (amendment) regulations, 2018.
• Regulations come into force on the date of their publication in the official gazette.

Amendment

• In regulation 3, sub-regulation (2), after proviso, insert new one pre-explanation.
• That acquisition pursuant to resolution plan approved under section of Insolvency and Bankruptcy Code, is exempt from obligation in proviso on sub-regulation (2).