SEBI has told Bajaj Finserv that its unit Bajaj Allianz General Insurance Co's deal with Allianz SE was indeed a related party transaction, and that Bajaj Finserv was required to seek shareholders approval under LODR regulations.
CNBC-TV18‘s economic policy editor Siddharth Zarabi reports, quoting sources, the Sebi has mandated that any listed entity with a strategic partner should announce an open offer. Zarabi adds that according to a Cabinet ordinance, the market regulator is to have more control collective investment schemes.
Call and put options and affirmative rights - they are standard inclusions in many shareholder agreements. But market regulator SEBI is about to change its positions on both.