Interpreting Regulation 23(1)(c) of the Takeover Code: Applicability of the Principle of Impossibility
In this post, the author points out the conundrum regarding the application of the principle of “impossibility to perform an open offer” in Regulation 23(1)(c) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 2011 as a requirement to grant a withdrawal of the takeover offer. The author further tries to strike a balance between the narrow and the wide interpretation of the Regulation. Continue reading Interpreting Regulation 23(1)(c) of the Takeover Code: Applicability of the Principle of Impossibility
