Sebi bars PE funds, promoters from side deals

Cracking down on secret profit sharing agreements between private equity funds and promoters of listed firms, Sebi today barred them from entering into any such pact without prior approval of board and public shareholders.

The restrictions will also apply to employees, including key managerial personnel and directors of listed companies, for themselves and on behalf of any other person, Sebi said after the meeting of its board.

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