No Objection Certificate requirement: lenders representing a substantial majority of secured creditors must consent for listed-entity schemes to proceed. A No Objection Certificate (NOC) is mandated from lending scheduled commercial banks, financial institutions or debenture trustees representing a substantial majority in value of secured creditors as an amendment to Part I Para A 2(k) of the Master Circular; this requirement applies to all schemes filed with stock exchanges after the mid-November 2021 amendments, and stock exchanges are directed to notify listed companies and publish the circular on their websites under SEBI's regulatory powers.
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.
No Objection Certificate requirement: lenders representing a substantial majority of secured creditors must consent for listed-entity schemes to proceed.
A No Objection Certificate (NOC) is mandated from lending scheduled commercial banks, financial institutions or debenture trustees representing a substantial majority in value of secured creditors as an amendment to Part I Para A 2(k) of the Master Circular; this requirement applies to all schemes filed with stock exchanges after the mid-November 2021 amendments, and stock exchanges are directed to notify listed companies and publish the circular on their websites under SEBI's regulatory powers.
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