It has been reported that, in the coming board meeting of SEBI, the SEBI will be discussing the proposed infrastructure debt funds and uniform KYC norms. The board meeting is scheduled to be held on 28th of July, 2011, in Mumbai.

Besides, discussion will also be held on the issue related to eligibility criteria for IPOs and electronic reporting on a SEBI unified platform. The coming board meeting is being keenly awaited by the stakeholders, as it is expected that a decision over Achuthan committee’s report on changes to the takeover code governing mergers and acquisitions will also be made during the meeting.

Recently, the takeover code of mergers and acquisitions has been a subject of criticism. Previously, the committee recommended 100% open offer size rule which would provide an exit option to all the shareholders of the target company, and abolition of non-competitive fees separately paid by an acquirer to the promoter of a target company.

Although it is expected by the stakeholders that a decision over the controversial issue of takeover code will be heard, it is least expected of SEBI bringing changes in its “100% open offer”. Lots of stakeholder and investors are having higher expectations from the scheduled board meeting, as they can only guess what will come out of it. However, for the meeting, they have to wait till 28th of July.