New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    In the event of the failure of the delisting offer made

    by the acquirer, through the manager to the open offer, shall from the date of the announcement under Regulation 5A(2), file with the Board, a draft of the letter of offer:
    A Within 10 working days Correct Answer Incorrect Answer
    B Within 12 working days Correct Answer Incorrect Answer
    C Within 5 working days Correct Answer Incorrect Answer
    D Within 15 working days Correct Answer Incorrect Answer
    E Within 7 working days Correct Answer Incorrect Answer

    Solution

    Regulation 5A: Delisting Offer Acquirer may opt to delist the target listed company by declaring such intention upfront. ·       Where a competing offer is made ü  the acquirer shall not be entitled to delist the company; ü  the acquirer shall not be liable to pay interest to the shareholders on account of delay due to competing offer; ü  the acquirer shall comply with all the applicable provisions of these regulations and make an announcement in this regard, within two working days from the date of public announcement made, in all the newspapers in which the detailed public statement was made. ·       Shareholders who have tendered shares in acceptance of the offer, shall be entitled to withdraw such shares tendered, within 5 working days from the date of the announcement. 

    Practice Next