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SEBI debars fugitive economic offenders from making public announcement of an open offer for acquiring shares

September 17, 2018
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The Board has notified SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2018. A new regulation 6B has been inserted in the regulations providing that no person who is a fugitive economic offender shall make a public announcement of an open offer for acquiring shares or enter into any transaction for acquiring shares or voting rights or control of a target company. Amendment have also been made to regulation number 2, 5A, 9, 10, 17, 18 20-22, 24, 29 32 & 33.
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