No Takeover Code Exemption for Debenture Trustees
Published on Thu, Apr 19,2012 | 13:24, Updated at Thu, Apr 19 at 13:29Source : Moneycontrol.com
In an Informal Guidance to IL&FS Trust Company, SEBI has advised that debenture trustees and trustee companies are not covered by the exemption available to banks, financial institutions or public financial institutions from making various disclosures to the stock exchanges about “acquisition” of shares of listed companies resulting from acceptance (or invocation) of pledges offered to secure loans and advances. This alert by VERUS analyses the consequences of this interpretation by SEBI.
Read the accompanying attachment for details..