Scheme of arrangement compliance: Central guidelines impose timelines and procedural checks for ROCs and Regional Directors to report. The circular mandates a uniform procedure for RDs and ROCs on schemes under section 391-394, requiring electronic tracking of court notices, specified short timelines for ROC reporting and RD actions, submission of valuation and auditors' materials, routing of finalized affidavits through standing counsel and Law Ministry, and substantive checks on filing status, investor grievances, inspections, regulatory clearances, listing/NOC issues, foreign interests, accounting and valuation conformity, employee protection, and potential circumvention of statutory safeguards.
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Provisions expressly mentioned in the judgment/order text.
Scheme of arrangement compliance: Central guidelines impose timelines and procedural checks for ROCs and Regional Directors to report.
The circular mandates a uniform procedure for RDs and ROCs on schemes under section 391-394, requiring electronic tracking of court notices, specified short timelines for ROC reporting and RD actions, submission of valuation and auditors' materials, routing of finalized affidavits through standing counsel and Law Ministry, and substantive checks on filing status, investor grievances, inspections, regulatory clearances, listing/NOC issues, foreign interests, accounting and valuation conformity, employee protection, and potential circumvention of statutory safeguards.
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