"It would be almost impossible to use the Packman Defence in India." Comment.

The Pac-Man Defence is a defensive mechanism used against the hostile takeover, wherein the target firm turns around the table and acquires the firm that has made the hostile bid or has initiated the takeover. Pac-Man defence is a strategy by the promoters of the target company to make a counter offer to existing shareholders that may demoralise the acquirer from the proposal. Regulation 26 (2) of SEBI (SAST) Regulations, 2011 prohibits the target company to enter into any agreement other than in ordinary course of business during offer period except with the approval of shareholders through special resolution by way of postal ballot. Hence in India with such Regulatory Bodies and regulations, it's almost impossible to resort to Pac-man defence strategy.