Sebi eases norms for acquisition of distressed assets of listed companies

Sebi tightens rules for P-notes and will charge fee from issuers of them

Markets regulator Sebi today relaxed takeover norms for acquisition of stressed assets to help the government and the RBI in their efforts to tackle bad loans.

After a board meeting here today, Sebi Chairman Ajay Tyagi said the regulator has decided to ease norms for acquisition of distressed assets of listed companies.

The board also approved a proposal to tighten the rules for participatory notes through imposition of a regulatory fee on issuers of such instruments.

Tyagi, however, said there is no proposal to completely ban these instruments as they can be useful for new foreign investors looking to test the Indian markets.

"Sebi