Subs. by Act 1 of 2018, s. 73, for “transferor company” (w.e.f. 9-2-2018). — THE COMPANIES ACT, 2013

2. Subs. by Act 1 of 2018, s. 73, for “transferor company” (w.e.f. 9-2-2018). Explanation.—For the purposes of this section, the expressions " acquirer " and " person acting in concert " shall have the meanings respectively assigned to them in clause (b) and clause (e) of subregulation (1) of regulation 2 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. (9) When a shareholder or the majority equity shareholder fails to acquire full purchase of the shares of the minority equity shareholders, then, the provisions of this section shall continue to apply to the residual minority equity shareholders, even though,— (a) the shares of the company of the residual minority equity shareholder had been delisted; and (b) the period of one year or the period specified in the regulations made by the Securities and Exchange Board under the Securities and Exchange Board of India Act, 1992 (15 of 1992), had elapsed.

Section 2