Special Purpose Acquisition Companies, or SPACs, are listed shell companies created with the sole purpose to acquire unlisted or private companies and then merge with the latter
May be asked for regular financial results
The list of India's best unlisted companies is dominated by Indian subsidiaries of well-known American and European MNCs
According to legal experts, a takeover is when a non-controlling shareholder takes control and a squeeze-out is when a controlling shareholder squeezes out minority shareholders
Analysts say rules may have a bearing on Tata Sons in midst of battle with its ex-chairman Mistry
Unlisted companies have no formal takeover code and shares are transferred on the basis of contracts and agreements
Restrictions on unlisted securities to hit new schemes, alternative routes being explored
The decision also comes at a time when the ministry is clamping down on shell companies that are suspected of being conduits for illicit fund flows