Markets regulator Security and Exchange Board of India (SEBI) has reconstituted its four-member Takeover Panel. The Takeover Panel looks into the applications that seek 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. SEBI had first constituted this Takeover Panel in November 2007, under the chairmanship of former Bank of Baroda chairman K Kannan.
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).
Important takeaways for all competitive exams:
- Securities and Exchange Board of India Founded: 12 April 1992.
- Securities and Exchange Board of India Headquarters: Mumbai.
- Securities and Exchange Board of India Agency executive: Ajay Tyagi.