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<h1>SEBI Updates Scheme of Arrangement Rules: Clear Dues Before Filing; New Reporting Requirements for Listed Entities.</h1> The circular from the Securities and Exchange Board of India (SEBI) addresses amendments to the framework for Schemes of Arrangement by listed entities and relaxations under Rule 19(7) of the Securities Contracts (Regulation) Rules, 1957. It mandates that listed entities must clear all dues or fines with SEBI, stock exchanges, and depositories before filing draft schemes. Entities must submit a 'Report on Unpaid Dues' if applicable. Stock exchanges are instructed to disseminate this information and report implementation status to SEBI. Any misstatement or false information may result in punitive action. The circular aims to protect investor interests and regulate the securities market.