Chandan ( New Delhi )
15-Apr-2023 11:50 PM
ICDR-Exit opportunity
Sir we know that at least 10 percent shareholders can apply for exit opportunity but before closing of tendering periods they can withdraw as well so sir i have questions that if after withdrawal the limits 10 percent reduced is promoter still provide exit opportunity or not????? Plz tell me sir
As per provisions, the promoters or shareholders in control shall make the exit offer in to the dissenting shareholders, in cases, if the proposal for change in objects or variation in terms of a contract, referred to in the offer document is dissented by at least 10% of the shareholders who voted in the general meeting; Hence, even if after withdrawal the limits of 10 percent reduced then also promoters still have provide exit opportunity as they voted in general meeting.
Answer given by Shubhamm Sir at 01-May-2023 06:21 PM