Market regulator Sebi is likely to approve the Satyam Board-formulated framework to induct a strategic investor.
"In this case (Satyam), once the framework is finalised by the government-appointed board in consultation with the Company Law Board (CLB), Sebi is unlikely to change the proposal,'' a top Sebi source told PTI here on Friday.
The Sataym Board is understood to have finalised the roadmap to conduct the bidding process for the beleaguered IT major at its board meeting yesterday and is expected to submit the proposal to Sebi soon for getting regulatory clearances.
With a view to facilitate the takeover process, Sebi recently amended the takeover rules for companies having a government-appointed board, besides making the preferential issue norms more flexible.
(Source-Google)
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