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of <h1>SEBI Circular Mandates 75% Creditor Approval for Listed Companies' Arrangements; Applicable from November 16, 2021.</h1> The circular issued by SEBI addresses schemes of arrangement by listed entities, specifying that a No Objection Certificate (NOC) is required from lending banks, financial institutions, and debenture trustees, representing at least 75% of secured creditors by value. This requirement applies to schemes filed with stock exchanges after November 16, 2021. Stock exchanges must inform listed companies and publish the circular on their websites. The circular is enacted under the SEBI Act, 1992, and relevant regulations to protect investors and regulate the securities market. The document is accessible on SEBI's website under the legal framework section.
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