Sebi Alters Takeover Panel, Names Deloitte India's MD N Venkatram as New Member

Sebi, markets regulator has re-formed its Takeover Panel, which that monitors the applications looking for exemption from the mandatory open offer that an acquirer has to make to minority shareholders.

Thus, the regulator has appointed N Venkatram MD and CEO. The panel, chaired by N K Sodhi, the former chief justice of the high courts of Karnataka and Kerala, makes its recommendations to Sebi on such applications after which the regulator gives an opportunity to concerned parties before passing an order. Sodhi was also the former presiding officer of the Securities Appellate Tribunal.

The other members of the panel are Darius Khambata (former advocate general, Maharashtra) and Thomas Mathew T (former chairman of Life Insurance Corporation of India). Sebi had first constituted a four-member Takeover Panel in November 2007, under chairmanship of former Bank of Baroda chairman K Kannan.

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