Addendum to SEBI Circular dated November 16, 2021 relating to Schemes of Arrangement by Listed Entities
Summary
This circular amends the Master Circular regarding Schemes of Arrangement by Listed Entities to include a requirement for No Objection Certificates from lenders. It mandates that recognized stock exchanges disseminate these provisions to listed companies and publish them on their websites. The directive is issued under Section 11(1) of the SEBI Act, 1992, and relevant Listing Regulations.
Text
This Circular shall be applicable for all the schemes filed with the stock exchanges from the date of the Circular.
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
Insertion of Part I Para A 2(k) No Objection Certificate (NOC) from the lending scheduled commercial banks/financial institutions/debenture trustees.
Source: SecMarx — Addendum to SEBI Circular dated November 16, 2021 relating to Schemes of Arrangement by Listed Entities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.