Section 16 in The Securities And Exchange Board Of India (Amendment) Act, 2002
16. Amendment of section 15H.- In section 15H,-
(a)after clause (ii), the following clauses shall be inserted, namely:-(iii)make a public offer by sending letter of offer to the shareholders of the concerned company; or(iv)make payment of consideration to the shareholders who sold their shares pursuant to letter of offer,(b)for the words" not exceeding five lakh rupees", the words" twenty- five crore rupees or three times the amount of profits made out of such failure, whichever is higher" shall be substituted.
