Sebi Takeover Code

For a level playing field with minority shareholders, SEBI is likely to watertight this loophole.

Sebi grants exemption from Open Offer to Janky Rupen Patel in indirect acquisition in Patel Engineering Ltd

The Takeover panel of Sebi observed that there is no ultimate change in control in the target company, as the applicant has been shown as a promoter of the target company in the shareholding patterns filed with stock exchanges for the last three years. Hence, the transfer of shares would not prejudice the interests of public shareholders.

Religare-Burman saga brings forth a key inconsistency in Sebi and RBI rules for takeovers

Under Sebi’s takeover code, the acquirer is obliged to announce an open offer once the 25% shareholding threshold is breached. However, under the RBI norms for acquisition of NBFCs, the target company is obliged to make an application with RBI seeking its nod for change in control.

Finance Ministry allows 26% FDI in Indian airlines: Sources

The government seems to be pushing ahead with its plan to open up the aviation sector. Sources informed that the finance ministry has given its nod for foreign airlines to buy up to 26% stake in Indian carriers, reports CNBC-TV18’s Aakanksha Sethi.