Palm Ltd. bought back some shares in compliance with section 77A. As a consequence, the shareholding of one shareholder, Vaibhav Ltd., increased from 24% to 27%. Palm Ltd. disclosed the changed shareholding pattern to th
CS Professional · Corporate Restructuring, Valuation and Insolvency · PYQS · June 2014
Palm Ltd. bought back some shares in compliance with section 77A. As a consequence, the shareholding of one shareholder, Vaibhav Ltd., increased from 24% to 27%. Palm Ltd. disclosed the changed shareholding pattern to the stock exchange. On receiving the information regarding increase in holding of Vaibhav Ltd. to 27%, SEBI has issued a show-cause notice to Vaibhav Ltd. for its failure to make a public offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prepare a reply to the show-cause notice.
Topics: Corporate Restructuring
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