IHC’s $1-bn acquisition of Sammaan Capital in focus following SC directives: Experts

Our Founder & MD, Mr. Shriram Subramanian, recently shared his expert insights in Moneycontrol on the Supreme Court’s directive for a fresh probe into historical allegations linked to Sammaan Capital’s former promoter. This development triggered sharp market volatility, with the stock falling nearly 13% intraday and raising concerns over regulatory scrutiny and transaction timelines.

He said that “The open offer by the incoming investor could get delayed, as the investor acquiring 60% may be concerned about potential liabilities. SEBI too may slow down the approval process until the investigation is completed, similar to its approach in the Fortis case when a court matter was pending. However, as long as the company and its current management had no role in the irregularities, the takeover is unlikely to be impacted. What is also unclear is why the Supreme Court did not find merit in past court rulings and earlier investigative efforts.”

Read full article: https://www.moneycontrol.com/news/business/ihc-s-1-bn-acquisition-of-sammaan-capital-may-face-additional-hurdles-following-sc-directives-experts-13686350.html