Collective holding of group is to be considered to determine benchmark fixed by SEBI takeover code

SEBI : Where appellants had acted in concert with each other as a group for purpose of acquisition of shares/voting rights of target company and had made a public offer, for determining crossing of threshold limit of 15 per cent prescribed by regulation 10 of take over regulations 1997, it is collective holding of entire group/concert which would be benchmark for determining increase in shareholding and not appellant shareholding as an individual