To ensure fair treatment of minority investors during takeovers of listed companies, Market regulator Securities & Exchange Board of India (SEBI) has decided to seek help of chartered accountants and merchant bankers for an independent valuation of the price offered to small shareholders by new promoters. According to its public notice, Sebi would empanel eligible Chartered Accountant firms to take up work relating to valuation of shares under its takeover regulations, which involves the entities buying a substantial stake in a listed company to make an open offer for minority shareholders as well. The CAs would also be consulted on valuation of assets in relation to schemes of arrangement undertaken by the listed companies while inviting applications from eligible CAs. The notice stated that, Sebi might also get valuation of the shares done by an independent merchant banker, other than the one appointed by the concerned company.