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Aug 17, 2017
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Sebi eases rules for lenders buying stake in distressed companies
Markets regulator Sebi has notified relaxed norms for stake purchase in distressed listed companies by lenders, exempting them from making open offers for shareholders.The relaxation will be subject to certain conditions, including shareholders' approval of the stake acquisition by way of special resolution.The Sebi decision comes against the backdrop of the government and the Reserve Bank of India stepping up efforts to tackle the menace of bad loans, amounting to over Rs 8 lakh crore.The regulator has eased the norms for restructuring in stressed companies that are listed on exchanges as well as resolution plans approved under the Insolvency and Bankruptcy Code, Sebi said in a notification dated August 14.
Source -
http://www.business-standard.com
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