Markets regulator SEBI has reconstituted its Takeover Panel, which looks into the applications seeking exemption from the mandatory open offer that an acquirer needs to make to minority shareholders. The regulator has appointed N Venkatram MD and CEO, Deloitte India as the new member of the Takeover Panel, latest update with SEBI showed.

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.

Source: Business Today