Minority shareholders are miffed at the lenient delisting process for companies facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). According to sources, several investor protection bodies have written to the Securities and Exchange Board of India (Sebi) for a review of the norms, which they say are anti-minority shareholders.
The special delisting norms for companies under the IBC, released earlier this week, offer a raw deal to minority shareholders who will be forced to tender their shares virtually free. As per the new rules, a company under the ...Read Full Story
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