Q.3 L\& A Infrastructure Ltd (L\&A), a listed company seeks to acquire a controlling stake in Viswas Cement Ltd (Viswas),by acquiring shares in the stock exchange and from PE funds holding a stake in Viswas. [10] a) What is the provision with respect to disclosures to be made by acquirers in a target company under SEBI (SAST),2011 and provisions for mandatory open offer. (4) b) After announcing the open offer L\&A discover that the financial details provided by Viswas was false and the liabilities of Viswas was far more than the balance sheet describes. On what grounds can SEBI permit withdrawal of open offer and can withdrawal be permitted by SEBI in case of L\&A. (3) c) Explain the provisions relating to disclosures of promoters voting rights/encumbrances under the SEBI and SAST regulations. (3)