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Issues in Takeover code
Title: Open Offer
Suggestion: The existing provisions only provides the maximum limit upto which the non compete fees can be paid without including it in offer price.

It should be added that it can be paid only where there is some genuine competition from the person to whom it is being paid.
Rationale: So that the non compete fees is paid only when it is expected that the acquirer may face competition from the outgoing sellers and not for manipulating the offer price to be paid to the shareholders.