Securities And Exchange Board Of India - Subsection
Section 17(2) in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
(2)[ If a counter offer has been made by the acquirer or promoter in accordance with regulation 16(1A), an offer made under chapter III shall be deemed to be successful only if the post offer promoter shareholding (along with the persons acting in concert with the promoter) taken together with the shares accepted at the counter offer price reaches ninety per cent. of the totalissued shares of that class excluding the shares which are held by a custodian and against which depository receipts have been issued overseas.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/46, dated 14.11.2018 (w.e.f. 10.6.2009).]
