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Sebi likely to tighten takeover norms for insolvent firms under IBC, says report

Updated : February 28, 2019 08:47 AM IST

According to the BS report, the sources said that the regulator is planning to do away with the provision that lets a ‘competent authority’ to exempt an acquirer from the open offer requirement.
Only a court or a tribunal is likely to be allowed to provide such exemptions, the report added.
The move is to ensure that the exemption provided is not misused, said the sources.
Sebi likely to tighten takeover norms for insolvent firms under IBC, says report
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