Monday July 21 2014
News Source: Global Disclosures
Focus: Takeover and Acquisition
Type: General
Country: India
It is being reported that the Securities and Exchange Board of India would soon come out with fresh guidelines on what constitutes ‘control’ under the India takeover code.
Under the existing provisions, control includes the right to appoint majority of the directors or to control the management or policy decisions exercised by a person or persons acting in concert in a target firm.