Securities And Exchange Board Of India - Subsection
Section 20(3) in Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers)Regulations, 1997
(3)In case the offer price consists of consideration payable in the form of securities issuance of which requires approval of the shareholders, such approval shall be obtained by the acquirer within [seven] [Substituted by the SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2002, w.e.f. 9-9-2002. ] days from the date of closure of the offer:Provided that in case the requisite approval is not obtained, the acquirer shall pay the entire consideration in cash.
