FinMin, industry to discuss Takeover Code tomm
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Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions after a meeting with industry and other stakeholders tomorrow.
The Takeover Regulations Advisory Committee chaired by Chief Economic Advisor Kaushik Basu will discuss the amendments in the code as proposed by the C Achuthan headed Sebi panel, a Finance Ministry official said.
The meeting will be attended by industry chambers FICCI, CII and Assocham besides some chartered accountants and members from the panel, the official said.
Once the Finance Ministry clears the amendments, it is likely to be approved by market regulator Sebi in its next board meeting for implementation.
The Takeover guidelines proposed by Achuthan panel in July last year calls for comprehensive modifications in the existing norms and if implemented would make corporate merger and acquisition deals costly.
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