SEBI suggests amendment to open offer rules

The Securities and Exchange Board of India or SEBI confirmed that it would amend its regulations after it was approached by the Government of India appointed board of directors to oversee Satyam Computer Services sought some exemptions from open offer rules. However, SEBI gave no timeframe in this context although its board had endorsed this proposal. CB Bhave, Chairman of SEBI at a press conference at Mumbai, disclosed this.