Sebi proposes 25% voting right threshold for 'control'

Seeking to define 'control' in case of merger and acquisitions involving listed companies, Sebi today proposed a 25 per cent voting right threshold or the right to appoint majority of directors as determining factors to identify the controlling entity. Launching a public consultation process, the regulator said the final decision on putting in place 'bright-line tests for acquisition of control' under takeover regulations would be taken after looking into views of all stakeholders.

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