Schemes of Arrangement by Listed Entities

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..... o an Issue Dear Sir / Madam, Sub: Schemes of Arrangement by Listed Entities 1. SEBI Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated December 22, 2020 has laid down the framework for Schemes of Arrangement by listed entities. 2. Empowering the stock exchanges : It has been decided to provide further clarifications on the processing of draft schemes filed with the stock ex .....

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..... Securities and Exchange Board of India Act, 1992 and Regulations 11 , 37 and 94 read with Regulation 101(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Rule 19(7) of Securities Contracts (Regulation) Rules, 1957 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 6. A co .....

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..... 2. Insertion of Part I Para A 2(j) Declaration from the listed entity on any past defaults of listed debt obligations of the entities forming part of the scheme. 3. Insertion of Part I Para A 2(k) No Objection Certificate (NOC) from the lending scheduled commercial banks/financial institutions. 4. Insertion of Part I, Para D 1. The fractional entitlements, if any, shal .....

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