The Securities and Exchange Board of India (SEBI) on November 16, 2021 has issued clarifications regarding Schemes of Arrangement by Listed Entities which issued under vide Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated December 22, 2020.
Therefore, it has been decided to provide further clarifications on the processing of draft schemes filed with the stock exchanges and make certain amendments. These amendments are aimed at ensuring that the recognized stock exchanges refer draft schemes to SEBI only upon being fully convinced that the listed entity follows SEBI Act, Rules, Regulations and circulars.
Further, 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. This Circular shall be applicable for all the schemes filed with the stock exchanges from November 16, 2021.
[Circular No- SEBI/HO/CFD/DIL2/CIR/P/2021/0000000657]
