For acquisition or holding of shares or voting rights

Solution

Regulation 3 of SEBI (SAST) Regulations: Substantial acquisition of shares or voting rights ●      25% shares or voting rights: No acquirer along with PAC (persons acting in concert) shall acquire share or voting rights in a target company taken together with shares or voting rights held by him or together with PAC entitled them to exercise 25% or more, unless a Public announcement has made . ●      Creeping Acquisition Limit: An acquirer who holds 25% or more but less than less than maximum permissible non public shareholding , in any financial year can acquire such additional shares or voting rights as would entitle him to exercise more than 5% of the voting right only when acquirer makes a public announcement .