SpiceJet crisis: Investors approach Sebi with revival plan


By PTI | 14 Jan, 2015 
Signalling an imminent change in SpiceJet's ownership, potential investors, including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline. 

Sources said investors are consulting Sebi with regard to various regulations applicable to a listed company in case of fresh infusion of funds by entities other than existing promoters, as also about the change in ownership and management. 
Besides, the investors are also seeking regulatory guidance about applicability of open offer and takeover code related norms, as well as about classification of promoter and public shareholders in a listed company, sources added. 
The moves assumes significance in the wake of another Indian carrier Jet Airways having faced major regulatory hurdles with Sebi last year over its induction of UAE-based Etihad as a strategic partner with a 24 per cent stake. 


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