"Once open offer is made there is no question of withdrawal yet there are exceptions." Comment with your views in terms of the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares a

Although open offer once made cannot be withdrawn yet Regulation 23 of SAST Regulations, 2011 provide certain exceptions. They are as under: (a) Statutory approvals required for the open offer or for effecting the acquisitions attracting the obligation to make an open offer have been refused subject to such requirement for approvals having been specifically disclosed in the Detailed Public Statement and the letter of offer; (b) Any condition stipulated in the Share Purchase Agreement attracting the obligation to make the open offer is not met for reasons outside the reasonable control of the acquirer, subject to such conditions having been specifically disclosed in the Detailed Public Statement and the letter of offer; (c) Sole acquirer being a natural person has died; (d) Any other circumstances if SEBI merit withdrawal of open offer.