The Takeover Regulations Advisory Committee constituted by capital market regulator Securities and Exchange Board of India (SEBI) recommended increase in the acquisition threshold for the initial trigger of a company for takeover to 25 per cent from the existing 15 per cent.

The Committee headed by C Achuthan, former Presiding Officer of the Securities Appellate Tribunal, which submitted its report to SEBI Chairman C B Bhave had re-written the entire Takeover code making substantive changes upon review of the current law governing substantial acquisition for shares and takeovers.

Mr Bhave told newsmen that the SEBI Board would consider the report after looking into the public comments before the final order was passed.

UNI