Securities And Exchange Board Of India - Subsection
Section 28(6) in Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers)Regulations, 1997
(6)Where the escrow account consists of bank guarantee, such bank guarantee shall be in favour of the merchant banker and shall be valid at least for a period commencing from the date of public announcement until [twenty] [Substituted for ] days after the closure of the offer.
