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V.S. Datey on Companies Act, 2013
  • Takeover offer for unlisted companies

    by Akshat on Saturday, June 27, 2020 at 11:04 AM

    Takeover Offer as per Section 230(11) of Companies Act, 2013-Is it mandatory for minority shareholders to tender shares in Takeover Offer? Section 230(11) does not define Takeover Offer. Section 201(10) of Companies Bill, 2009, which intended to introduce provisions pertaining to Takeover Offer for unlisted cos, defined Takeover Offer as "an offer to acquire all the shares in a company". However, said definition was not included in Section 230(11). What was rationale for removal of definition

    Replied byV.S. Datey Sunday, June 28, 2020 at 09:07 AM

    the section does not say minority shareholders must tender shares for takeover offer V S Datey

 
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