Prior approval for change in control required via SEBI portal with investor relocation option and specified timelines. An applicant Vault Manager must obtain prior approval from SEBI for any change in control by applying through the SEBI Intermediary Portal with prescribed disclosures including shareholding patterns, past SEBI registration history, regulatory or investor complaints, litigation details, an undertaking that the acquirer will honour past liabilities, and a signed fit and proper person declaration; approval, if granted, is valid for six months and the Vault Manager must notify investors and provide at least thirty calendar days to relocate physical gold prior to effecting the change.
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.
Prior approval for change in control required via SEBI portal with investor relocation option and specified timelines.
An applicant Vault Manager must obtain prior approval from SEBI for any change in control by applying through the SEBI Intermediary Portal with prescribed disclosures including shareholding patterns, past SEBI registration history, regulatory or investor complaints, litigation details, an undertaking that the acquirer will honour past liabilities, and a signed fit and proper person declaration; approval, if granted, is valid for six months and the Vault Manager must notify investors and provide at least thirty calendar days to relocate physical gold prior to effecting the change.
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