JN Gupta, former Executive Director of SEBI points out that this issue is no longer limited to banks but has taken a socio-political angle. Therefore, it is difficult to expect banks to take a purely commercial decision on whether to accept the offer.
Re-Writing Company Law?
Those consequences became clear this week when the 3-year time period to comply with the 25% minimum public shareholding norm came to an end. On June 4th SEBI passed an interim order including sanctions against promoters and directors of 105 companies that have not yet increased public shareholding to 25%.
The Facebook IPO may reinvigorate in the American primary markets. But here in India the dry spell continues. Last year 29 IPOs were called off and in January - 4 IPOs got cancelled.
International arbitration clauses are ubiquitous in most contracts. And research shows that the international chamber of commerce or ICC is the most popular arbitration center.