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An economy is driven by well-structured policies and ideas which require modifications in order to be conducive with the prevailing economic conditions. The Reserve Bank of India (RBI), India’s federal bank, is largely responsible for shaping the economic policies and, consequently, issues circulars and notifications

The law prescribing the rules of takeover of listed companies in India is more than 9 years old. It was formulated by the Securities and Exchange Board of India (SEBI) and is called the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (Takeover Code...