Predators eyeing India’s listed companies have been empowered by new takeover rules
For some years now, the growing challenges and complexities confronting companies globally have seen regulators tweak laws and regulations to promote competition and attract investments.
In September 2009 India’s markets regulator, the Securities and Exchange Board of India (SEBI), set up a Takeover Regulations Advisory Committee (TRAC). The 12-member committee was headed by a former presiding officer of the Securities Appellate Tribunal, C Achuthan, and its remit was to suggest amendments to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
TRAC submitted its report in July 2010, fuelling widespread debate over impending changes to the regulations.
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