A summary of the major recommendations of SEBI appointed Achuthan Committee on Takeover Regulations

The SEBI appointed Takeover Regulations Advisory Committee (“ TRAC” ) headed by Mr. C. Achuthan has recommended far reaching changes in the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 (“ Regulations” ). The report prepared by TRAC includes the draft text of the proposed Takeover Regulations (“ PTR” ).