Sebi Etihad-Jet decision expected this week

The Securities and Exchange Board of India (SEBI) is poised to issue its decision on whether Etihad and Jet broke takeover rules during Etihad’s purchase of a 24% stake in the Indian carrier. The claim is that Etihad gained some management control following its purchase of the stake, a claim the airline denies. Sebi is re-examining whether there is any new material information concerning this case now that the purchase has been finalised. The Finance Ministry has told Sebi that the Foreign Investment Promotion Board (FIPB) approved the deal after thorough due diligence, while the Competition Appellate Tribunal (COMPAT) has