Thursday, April 16, 2015

NBFCs asked to give public notice prior to Merger and Acquisition deals

A public notice of at least 30 days shall be given before effecting the sale of, or transfer of the ownership by sale of shares, or transfer of control, whether with or without sale of shares. Such public notice shall be given by the NBFCs and also by the other party or jointly by the parties concerned, after obtaining the prior permission of the Reserve Bank, RBI said in a draft guideline.

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