In-house attack India PE private company rules

Author: | Published: 22 Jul 2011

A proposed revision of private placement guidelines for India’s unlisted public companies has been criticised by bankers counsel in the country.

The new Unlisted Public Companies (Preferential Allotment) Rules 2011 are being formulated by India’s Ministry of Corporate Affairs (MCA).

They aim to address private company funding problems raised during the Securities and Exchange Board of India’s (Sebi) ongoing investigation into Indian conglomerate, Sahara Group.

Kotak Mahindra Capital’s chief legal and compliance officer,...