Procedure for seeking prior approval for change in control of Portfolio Managers - SEBI - SEBI/HO/IMD-1/ DOF1/P/CIR/2022/77
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..... g prior approval in case of change in control of Portfolio Managers was specified. 2. To further streamline the process of providing approval to the proposed change in control of a Portfolio Manager, in modification to Circular dated May 12, 2021 it has been decided as under: (i) An online application shall be made by Portfolio Manager to SEBI for prior approval through the SEBI Intermediary Portal (https://siportal.sebi.gov.in). (ii) The prior approval granted by SEBI shall be valid for a perio .....
..... th SEBI prior to filing the application with NCLT; b. Upon being satisfied with compliance of the applicable regulatory requirements, in-principle approval will be granted by SEBI; c. The validity of such in-principle approval shall be three months from the date of such approval, within which the relevant application shall be made to NCLT; d. Within 15 days from the date of order of NCLT, Portfolio Manager shall submit an online application in terms of paragraph 2(i) of this Circular along with .....
..... xchange Board of India Act, 1992 read with Regulation 43 of the SEBI (Portfolio Managers) Regulations, 2020, to protect the interests of investors in securities market and to promote the development of, and to regulate the securities market. 5. The circular is available on SEBI website at www.sebi.gov.in under the categories “Info for - Portfolio Managers” and "Legal framework - Circulars". Yours faithfully, Ms. Manaswini Mahapatra General Manager +91-22-26449375 manaswinim .....