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.