BusinessTech Business and Politics

Companies Act: SEBI, IFSCA Look At Setup For ‘Blank Cheque Companies’ In India

Two government regulators — domestic markets watchdog SEBI and its counterpart for Gujarat’s GIFT City, IFSCA are on track to facilitate the launching of Special Purpose Acquisition Companies (SPACs) in India. As the name suggests, SPACs are formed with a definite purpose of acquiring one or more companies, but, at the time of formation, the entities do not disclose the name(s) of the target.

Source- Times of India

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