Change in control: prior approval required; CRAs must report specified corporate and management changes in half yearly filings. Prior approval by credit rating agencies is required only for change in control; other changes no longer need prior approval but must be reported in the half yearly Action Taken Report, including corporate restructuring (amalgamation, demerger, consolidation), change in directors (including managing or whole time directors), and shareholding changes not resulting in change in control; a negative declaration is required if no change occurred.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Change in control: prior approval required; CRAs must report specified corporate and management changes in half yearly filings.
Prior approval by credit rating agencies is required only for change in control; other changes no longer need prior approval but must be reported in the half yearly Action Taken Report, including corporate restructuring (amalgamation, demerger, consolidation), change in directors (including managing or whole time directors), and shareholding changes not resulting in change in control; a negative declaration is required if no change occurred.
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