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Sebi’s new ‘takeover norms’ likely by January

Sebi’s new ‘takeover norms’ likely by January
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First Published: Thu, Sep 17 2009. 11 04 PM IST
Updated: Thu, Sep 17 2009. 11 04 PM IST
Mumbai: The takeover regulations advisory committee of markets regulator Securities and Exchange Board of India, or Sebi, will announce its recommendations on possible changes to existing norms by January. The 12-member committee headed by C. Achuthan, former presiding officer of Securities Appellate Tribunal, on Thursday decided to study global practices and examine changes required in Indian norms. Sebi set up the committee earlier this month to see if the takeover code needed any changes.
“We have decided to conduct a research on international practices followed in dealing with takeover codes,” said a senior official familiar with the development on condition of anonymity. “After studying the feedback of the public and companies, we will draft our recommendations on required changes by January.” The committee is inviting public comment on the takeover code until 31 October through the Sebi website.
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First Published: Thu, Sep 17 2009. 11 04 PM IST