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of <h1>SEBI Amends 1997 Regulations: New Rules for PSU Disinvestment, Disclosure, and Share Reversion Effective August 17, 2001.</h1> The Securities and Exchange Board of India (SEBI) issued amendments to the 1997 regulations concerning the substantial acquisition of shares and takeovers, effective from August 17, 2001. Key changes include the introduction of terms like 'disinvestment' and 'Public Sector Undertaking' (PSU), clarifying that disinvestment refers to the sale by the Central Government of its shares or control in a listed PSU. The amendments exempt certain public announcements during PSU disinvestment, specify disclosure requirements, and address trading conditions for infrequently traded shares. Additionally, provisions are made for reversion of shares to the government in case of non-compliance with regulations.
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