9911796707
TMI BlogCriteria for exemptionX X X X Extracts X X X X X X X X Extracts X X X X ..... tal shares or voting rights held by the acquirer, directly or indirectly, does not entitle the acquirer to hold more than twenty-five per cent. of the total shares or voting rights of the company, of which shares are being acquired; or (b) an acquisition of shares as a stockbroker registered with the Securities and Exchange Board of India, or other similar authority established under any law for the time being in force outside India, in so far as the total shares or voting rights held by the acquirer, directly or indirectly, does not entitle the acquirer to hold more than twenty-five per cent. of the total shares or voting rights of the company, of which shares are being acquired; or (c) an acquisition of shares as a mutual fund registered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the target or its downstream group entities and their affiliates; (ii) any activity relating to production, supply, distribution, storage, sale and service or trade in product or provision of service which are at different stages or level of production chain to the activities of the target or of its downstream group entities and their affiliates; or (iii) any activity relating to production, supply, distribution, storage, sale and service or trade in product or provision of service which are complementary to the activities of the target or any of its downstream group entities or their affiliates: Provided , where the acquirer or its group entities or their affiliates are engaged in any of the aforesaid activities mentioned in this clau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncremental shareholding or voting rights acquired by a single acquisition or a series of smaller inter-connected acquisitions does not exceed five per cent. and such acquisition does not result in the shareholding or voting rights of the acquirer or its group entities increasing from less than ten per cent. to ten per cent. or more. 4. An acquisition of additional shares or voting rights of an enterprise by the acquirer or its group entities, where the acquirer or its group entities, prior to acquisition, holds more than twenty-five per cent. shares or voting rights of the enterprise, but does not hold more than fifty per cent. of the shares or voting rights of the enterprise, either prior to or after such acquisition: Provided that such ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n or enterprise, of another person or enterprise within the same group, except in cases where there is change in control over assets being acquired. 10. A merger or amalgamation of enterprises within the same group provided that the transaction does not result in change in control. 11. Acquisition of shares, control, voting rights or assets by a purchaser approved by the Competition Commission of India pursuant to and in accordance with its order under section 31 of the Act. 12. Demerger of a company and issue of shares by resulting company, in consideration of demerger, either to the demerged company or to the shareholders of the demerged company in the proportion of their shareholding in the demerged company prior to the demerger, except ..... X X X X Extracts X X X X X X X X Extracts X X X X
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