0130-2011 IP holding Asia Singapore PTE Ltd. and Another and Another vs Securities and Exchange Board of India
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“5. The takeover code, as originally framed, did not contain any provision governing the payment of non-compete fee by the acquirers to the sellers of the business. The matter was referred to the Bhagwati Committee, which, on a consideration of the issue, recognised that an acquirer may legitimately pay non-compete consideration to the promoter shareholder(s) and made the following recommendations:- “Parameters for determining offer price On non-compete payment the Committee noted that there is a need to address the situation specially where the acquirer passes on
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI Appeal No. 130 of 2011 Date of decision:12.09.2012 1. IP holding Asia Singapore PTE Ltd.
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Source: SecMarx — 0130-2011 IP holding Asia Singapore PTE Ltd. and Another and Another vs Securities and Exchange Board of India. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.