Business Takeover rules for unlisted companies decoded: What will be its impact on M&As Updated : February 20, 2020 06:42 AM IST The acquirer making an application should deposit at least 50 percent of the total consideration to be payable pursuant to takeover offer at the time of making an application to the NCLT. Going forward it remains to be seen whether the Acquirer will explore section 236 route or section 230 route for acquiring remaining shares. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.