Explanation:

• Markets regulator Security and Exchange Board of India (SEBI) has reconstituted its four-member Takeover Panel.
• The Takeover Panel looks into the applications that seeks exemption from the mandatory open offer that an acquirer needs to make to minority shareholders.

The Members of the Panel are:

• Chairman - Justice N. K. Sodhi (Former Chief Justice of High Courts of Karnataka & Kerala and Former Presiding Officer of the Securities Appellate Tribunal)
• Member – Darius Khambata (Former Advocate General, Maharashtra)
• Member – Thomas Mathew T (Former chairman of Life Insurance Corporation of India)
• Member – N Venkatram (MD and CEO, Deloitte India)
• Justice N. K. Sodhi was appointed as the Chairman in 2015.
• SEBI had first constituted this Takeover Panel in November 2007, under chairmanship of former Bank of Baroda chairman K Kannan.