Analyzing the new Takeover Code

The Securities and Exchange Board of India (‘SEBI’), vide a notification dated September 23, 2011, notified the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (‘2011 Regulations’), which has since replaced the erstwhile SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (‘1997 Regulations’).