NON RECEIPT OF OFFER LETTER
ravi
(Querist) 18 April 2009
This query is : Resolved
According to Regulation 22(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations (“SEBI (SAST) Regulations”), the Acquirer is required to send the Letter of Offer to all the shareholders of the target company (shareholders as on the specified date)
pl. guide me :
1.the Acquirer is required to send the Letter of Offer by ORDINARY POST OR UNDER U.C.P OR BY REGD.POST.
2.In Regulation 22(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations (“SEBI (SAST) Regulations”),NOTHING IS STATED ABOUT MODE OF DESPATCH.And if it not stated, whether any ruling or judgment is available or is there any PROVISION IN OTHER ACT CLARIFYING THE SAME.
Since I lost huge monetary gain due to the paper send by under U.C.P. & OFFER LETTER NOT RECEIVED BY ME WITHIN DUE DATE.
I need help urgently.
R.N.SAH
adv. rajeev ( rajoo )
(Expert) 18 April 2009
First u ask for the clarification and u have to prove that notice is not served, then u have a case.
ravi
(Querist) 19 April 2009
I had asked for the clarification & party had send the same through "UNDER CETIFICATE OF POSTING" which has not been delivered to me by postal dept. There is no system at postal dept.to take "DELIVERY PROOF " of the same.
Hence my contention will hold good.
Above all, being a Financial matter, it may require to be send by "REGD. LETTER" INSTEAD OF BY "UNDER CETIFICATE OF POSTING".
WHEN THE COMPANY HAS ACCEPTED BY MAIL THAT "the SEBI (SAST) Regulations do not provide for any specific mode for dispatch of Letter of Offer" in SEBI (SAST) Regulations.
Whether in General Clauses Act or in any ACT, Is it clarified what is essential when MODE OF DESPATCH IS NOT SPECIFIED is mentioned in a Particular ACT.
PL. HELP ME .
