Securities And Exchange Board Of India - Subsection
Section 16(1A) in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
(1A)[ If the price discovered in terms of regulation 15 is not acceptable to the acquirer or the promoter, the acquirer or the promoter may make a counter offer to the public shareholders within two working days of the price discovered under regulation 15, in the manner specified by the Board from time to time:Provided that the counter offer price shall not be less than the book value of the company as certified by the merchant banker.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/46, dated 14.11.2018 (w.e.f. 10.6.2009).]
