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Regulatory Insights for M&A in India

  • Vinod Kumar
  • Priti Sharma
Chapter

Abstract

This chapter discusses the regulatory provisions to be adhered by a firm entering into an M&A deal, which is majorly governed by but not limited to Companies Act 2013 and SEBI Takeover Regulations, 2011. As per Companies Act 2013, a new regulatory entity National Company Law Tribunal (NCLT) has been established for handling the M&A cases. The provisions of Companies Act are also explained through real-life case of Sun Pharma and Ranbaxy scheme of Amalgamation to help readers understand the regulatory aspects of M&A. The SEBI Takeover Regulations framework has been explained in detail to explain the meaning and role of various parties related to M&A, provisions related to triggering of open offer and disclosure requirements. The pricing of open offer based on SEBI prescribed methods has been explained with the help of numerical examples.

Keywords

Regulations Companies act 2013 National company law tribunal (NCLT) Procedural changes Special cases Scheme of merger Sun pharma–ranbaxy SEBI takeover code Acquirer Target Person acting in concert (PAC) Open offer 

Copyright information

© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  • Vinod Kumar
    • 1
  • Priti Sharma
    • 2
  1. 1.SGND Khalsa CollegeUniversity of DelhiNew DelhiIndia
  2. 2.Institute of Management Technology, Centre for Distance LearningGhaziabadIndia

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