Section 230(11) Companies Act 2013 (inserted by 2019 Amendment) deals …

Question

Section 230(11) Companies Act 2013 (inserted by 2019 Amendment) deals with TAKEOVER OFFERS made under a scheme of compromise/arrangement. It applies to:

Accepted Answer

C. compromise/arrangement involving the acquisition of any class of shares; the takeover offer follows specified valuation and minority squeeze-out provisions

1. Section 230(11) Companies Act 2013 (inserted 2019): any compromise or arrangement may include takeover offer in such manner as may be prescribed.
2. For listed companies, SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 apply alongside.
3. Section 230(12): an aggrieved party may make an application to the Tribunal in the event of any grievances with respect to the takeover offer.
4. The provision enables minority squeeze-out via NCLT-supervised scheme of arrangement.
5. Hence option B is correct.
_Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 230(11)-(12); inserted by Companies (Amendment) Act 2019_

Answer

only foreign acquirers of Indian listed companies, not domestic transactions (cf. Companies Act 2013, Section 230(11)-(12); inserted by Companies (Amendment) Act 2019)

Answer

only mergers among public sector companies of the Central Government (cf. Companies Act 2013, Section 230(11)-(12); inserted by Companies (Amendment) Act 2019)

Answer

only acquisition by Government of India of any private company shares (cf. Companies Act 2013, Section 230(11)-(12); inserted by Companies (Amendment) Act 2019)