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<h1>SEBI Amends Schemes of Arrangement Framework, Grants Relaxation u/r 19(7) for Listed Entities' Compliance.</h1> The circular issued by SEBI outlines amendments to the framework for Schemes of Arrangement by listed entities and provides relaxation under Rule 19(7) of the Securities Contracts (Regulation) Rules, 1957. The amendments aim to streamline the processing of draft schemes by empowering stock exchanges to ensure compliance with SEBI regulations before referring them to SEBI. The circular applies to schemes filed after November 17, 2020, and mandates valuation reports from registered valuers. It includes provisions for audit committee reviews, independent director recommendations, and detailed disclosures before the commencement of trading. The circular is intended to protect investor interests and regulate the securities market.