In a move that should facilitate the resolution of stressed assets, the Securities and Exchange Board of India (Sebi) on Wednesday exempted new investors in stressed firms as also in some instances banks from making the mandatory open offer to minority shareholders under the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The capital markets watchdog said any acquisition following resolution plans approved by the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, would be exempt from an open offer.
Following a board meeting, the regulator also banned the issue of offshore derivative instruments against derivatives except on those used for hedging.

Source - http://www.financialexpress.com