Minority Takeover offer in Unlisted Companies – Tool for hostile takeover or for deadlock breaker?
MCA has recently notified commencement of Section 230 (11) & (12) of the Companies Act and amended Compromises, Arrangements and Amalgamations Rules facilitating members of unlisted companies holding not less than 75% shares to make offer for minority takeover through Tribunal process. The conditions placed for such Takeover offer are; To provide report of registered …
