Nikhil Khandelwal files substantial acquisition disclosure under SEBI Takeover Regulations

M&A / JV 18 Jun 2026 · Announced· ✓ Verified

Nikhil Khandelwal has submitted a formal disclosure to NSE under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in connection with Systematix Corporate Services Limited. Regulation 31(4) requires disclosure when an acquirer crosses prescribed shareholding thresholds or announces an acquisition intention. The filing triggers mandatory public disclosure and activates the target board's obligations under Regulation 3(5) to issue a response, typically within 10 days, and convene a shareholder meeting for approval within 4 weeks.

Why it mattersA Reg 31(4) disclosure triggers public disclosure of acquisition intent; the acquirer's shareholding, funding source, and strategic purpose are now on record-requiring the target board to evaluate the offer and advise shareholders within statutory timelines.
Counsel—
SectorFinancial Services
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