Securities And Exchange Board Of India - Subsection
Section 28(13) in Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers)Regulations, 1997
(13)In the event of non-fulfilment of obligations by the acquirer, the merchant banker shall ensure realisation of escrow amount by way of foreclosure of deposit invocation of bank guarantee or sale of securities and credit proceeds thereof [to the Investor Protection and Education Fund established by the Board] [Substituted for the words ].
