Sebi notice to Etihad for code violation

In a new twist to the Jet-Etihad saga, the Securities and Exchange Board of India (Sebi) has served a notice on Etihad Airways for alleged violation of the takeover code regulations while acquiring 24 per cent stake in Jet Airways. Sources close to the development say the Abu Dhabi-based airline, in its reply, will have to address the issues raised by the market regulator, failing which it will have to make an offer to buy the entire 25 per cent public holding in Jet through an open offer.

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