Schemes of Arrangement by Listed Entities - Clarification w.r.t. timing of submission of NOC from the lending scheduled commercial banks/ financial institutions/ debenture trustee
Summary
This circular clarifies the timing for submitting No-Objection Certificates from lenders during schemes of arrangement by listed entities. It mandates that such NOCs must be submitted before the stock exchange issues its no-objection letter under Regulation 37(1) of the SEBI LODR Regulations, 2015. Recognized stock exchanges are directed to notify listed companies and disseminate these provisions on their websites.
Text
the NOC shall be submitted before the receipt of the No- objection letter from stock exchange in terms of Regulation 37(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recognized stock exchanges are directed to bring the provisions of this circular to the notice of the listed companies and also to disseminate the same on their website
Source: SecMarx — Schemes of Arrangement by Listed Entities - Clarification w.r.t. timing of submission of NOC from the lending scheduled commercial banks/ financial institutions/ debenture trustee. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.