Q.3 Falcon Steel is a listed company. 22% voting rights in Falcon are held by a Bank. Brij seeks to make an open offer for the shares held by the bank. What steps must Brij take before making the offer to the bank in compliance with SEBI SAST regulations. In case Brij also wants to make purchases in the stock exchange, explain the stages of disclosures on acquiring different levels of voting rights in the Falcon. [5 marks]