Sushil Kumar Aggarwal triggers SEBI takeover disclosure under Regulation 31(4)

M&A / JV 19 Jun 2026 · Announced· ✓ Verified

Sushil Kumar Aggarwal has filed a Regulation 31(4) disclosure with NSE under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This disclosure is mandatory when a person crosses 25% shareholding or acquisition thresholds as defined in Schedule I. The filing triggers a 30/4-week timeline for either filing an open-offer letter of offer or seeking an exemption under Schedule IV. The acquirer's obligations, timeline and exemptions depend on the specific threshold crossed and whether the acquisition is on-market or off-market.

Why it mattersRegulation 31(4) disclosure is a gating event requiring verification of acquisition quantum, timing of crossing, and evaluation of open-offer exemptions under Schedule IV - critical to advise the acquirer on mandatory bid or standstill obligations within 4 weeks.
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SectorIndustrials
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