Sebi plans to revise takeover code soon
Speaking at a conference organised by the Financial Planning Standards Board, Sebi chairman UK Sinha said the process of reviewing the takeover norms has already begun as some industry participants have given their feedback.
“...We have started relooking at the implementation of the revised takeover regulations. Hopefully in the next couple of months or in the near future we will be making further progress... We have received some feedback and those will be given due consideration,” said Sinha on the sidelines of the event.
According to Sinha, the review is part of the overall exercise at Sebi’s end to make regulations investor-friendly and at the same time, stringent to avoid any unfair practices in the securities market.
“So far, as the regulation is concerned, over a period of two decades many of our regulations have evolved. They have been tightened and made investor friendly. At the same time we have been able to strike a balance between the needs of the industry and that of the end customer,” he said.
In July 2011, the board of the capital market watchdog approved the new takeover norms based on the recommendations of the Takeover Regulations Advisory Committee (TRAC). The new norms increased the open offer trigger limit to 25% from
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