CONTROL AND INVESTOR PROTECTION RIGHTS UNDER THE SEBI TAKEOVER REGULATIONS

Published On: 01/04/2017

Practice Area: Corporate & Commercial

Authors:

Gaurav Dani
Mohit Chadha
Sonu Varghese
The Securities Exchange Board of India ("SEBI"), in a recent order dated March 31, 2017, in the matter of Kamat Hotels (India) Limited (the "SEBI Order") has clarified that protective covenants or rights in favor of an investor in the company are in the nature of checks and controls rather than formulating policies to run the company.