Sebi hearing on Jet deal likely on April 9

MUMBAI, Mar 30 (Business Standard):Abu Dhabi-based Etihad Airways is likely to appear before the Securities and Exchange Board of India (Sebi) for a hearing on April 9, according to two sources.

The is a sequel to a showcause notice for alleged violation of the takeover code while acquiring nearly a fourth in Jet Airways. In the notice, served after Sebi's decidion that the deal resulted in a change of control, the markets regulator had sought a reply from Etihad on why action shouldn't be taken against it for alleged violation of securities law.

If the airline can't convince Sebi officials on the charge, it might be directed to make an open offer to the public shareholders of Jet.

Etihad, in a written reply to Sebi earlier this month, had denied violation of the  regulations.