Regulation 37 - Acquisition of shares by a State level public financial institution. - Securities And Exchange Board of India(Substantial Acquisition of Shares And Takeovers) Regulations, 1997

Acquisition of shares by a State level public financial institution. 37. Where a proposal for acquisition of shares in respect of a financially weak company is made by a State level public financial institution, the provisions of these regulations in so far as they relate to scheme of rehabilitation prepared by a public financial institution, shall apply except that in such a case the Industrial Development Bank of India, a corporation established under the Industrial Development Bank of India Act, 1964 (10 of 1964), shall be the agency for ensuring compliance with these regulations for acquisition of shares in the financially weak company.