Business Standard

Sebi to tighten takeover regulations for companies under IBC process

The move was aimed at reducing ambiguity and curb the misuse of the regulations

Sebi guidelines on corporate bonds likely to keep yields elevated

Shrimi ChoudharySamie Modak Mumbai
The Securities and Exchange Board of India (Sebi) plans to tighten takeover norms applicable to companies undergoing proceedings under the Insolvency and Bankruptcy Code (IBC). 

Sources said the capital markets regulator would do away with the provision that allowed a ‘competent authority’ to exempt an acquirer from the requirement of an open offer. Only a court or a tribunal would be allowed to provide such exemptions, they added. 

Experts said the move was aimed at reducing ambiguity and curbing the misuse of the regulations.

While at present the rules allow a “competent authority” to provide an open offer exemption, the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2019 | 10:47 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to