SEBI reconstitutes Four-member Takeover Panel
- Markets regulator Security and Exchange Board of India (SEBI) has reconstituted its four-member Takeover Panel.
- The Takeover Panel looks into the applications that seeks exemption from the mandatory open offer that an acquirer needs to make to minority shareholders.
- SEBI has appointed N Venkatram MD and CEO, Deloitte India as the new member of this Takeover Panel.
- The Members of the Panel are:
- Chairman -Justice N. K. Sodhi (Former Chief Justice of High Courts of Karnataka & Kerala and Former Presiding Officer of the Securities Appellate Tribunal)
- Member – Darius Khambata (Former Advocate General, Maharashtra)
- Member – Thomas Mathew T (Former chairman of Life Insurance Corporation of India)
- Member – N Venkatram (MD and CEO, Deloitte India)
- Justice N. K. Sodhi was appointed as the Chairman in 2015.
- SEBI had first constituted this Takeover Panel in November 2007, under chairmanship of former Bank of Baroda chairman K Kannan.
Points to Remember
- Which organisation has recently reconstituted its Takeover Panel? SEBI
- How many members are there in the Takeover Panel reconstituted by SEBI? 4
- Chairman of the Takeover Panel reconstituted by SEBI? Shri. Justice N. K. Sodhi
Source: Economic Times