Proposed Amendments to SEBI Takeover Code

The Securities and Exchange Board of India has decided to harmonise the level of public shareholding for continuous listing as contained in Clause 40A of the Listing Agreement and vis-à-vis other regulations and guidelines. In furtherance of this decision, it has prepared a draft proposal for the amendment of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. It must be noted that the amendment that have been discussed are still in the stage of proposal and are not implemented as yet.