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Government rushes in to check takeover of Indian companies after China scoops up HDFC stake
The amendment aims at curbing opportunistic takeovers or acquisitions of Indian companies pursuant to COVID-19 including China. "This move is consistent with moves of several other countries to avoid distressed buyouts of companies which have become vulnerable on account of COVID-19," Karan Mitroo, Partner, L&L told Financial Express Online.
Source: financialexpress.com
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