Mrtp query

Bhushan K (Querist) 19 September 2011 This query is : Resolved
Dear all,

SEBI regulations such as takeover code, PMS regulation has defined the word "Group" as group as defined in MRTP Act. Now since, the MRTP Act has repealed, should we still refer to it for the purpose of definition of Group or should we refer to Competition Act.

Thanks

BK

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Sailesh Kumar Shah (Expert) 19 September 2011
definition of 'Group' would be from the Competition Act.

prabhakar singh (Expert) 19 September 2011
You your self know the answer ,no question to take a definition from a repeal Act.It would be competition Act as rightly thought by you and confirmed by Mr. Shah.

R.Ramachandran (Expert) 19 September 2011
Dear Mr. Prabhakar,
With due respect, on the same token, one need not also automatically assume and take the definition from the Competition Act, unless so specified by SEBI Regulation.

prabhakar singh (Expert) 20 September 2011
Mr.Ramachandran!is also correct.As the true import has to come from SEBI Regulations and if it has defined the word 'group' it self which resembled with repealed Act,but now if definition in Competition Act,is in conflict with SEBI's definition then while following
the regulations one has to keep confined with definition given by SEBI,and not one at any other place.

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