Master Circular on (i) Scheme of Arrangement by Listed Entities and (ii) Relaxation under Sub- rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957
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Scheme of Arrangement filings: SEBI master circular mandates pre filing disclosures, valuation and shareholder protections. This Master Circular consolidates SEBI requirements for a Scheme of Arrangement and procedures for seeking relaxation under Sub rule (7) of rule 19 SCRR. It mandates pre filing with a designated stock exchange of the draft scheme and specified documents including valuation reports, fairness opinion, auditor's certificate, compliance and complaints reports, and creditor NOCs; requires web disclosure and public shareholder e voting protections where shareholding or related party interests change; sets valuation, accounting and lock in conditions for schemes involving unlisted entities; and prescribes eligibility and additional conditions for listing without an IPO and for listing non convertible instruments.
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.
Scheme of Arrangement filings: SEBI master circular mandates pre filing disclosures, valuation and shareholder protections.
This Master Circular consolidates SEBI requirements for a Scheme of Arrangement and procedures for seeking relaxation under Sub rule (7) of rule 19 SCRR. It mandates pre filing with a designated stock exchange of the draft scheme and specified documents including valuation reports, fairness opinion, auditor's certificate, compliance and complaints reports, and creditor NOCs; requires web disclosure and public shareholder e voting protections where shareholding or related party interests change; sets valuation, accounting and lock in conditions for schemes involving unlisted entities; and prescribes eligibility and additional conditions for listing without an IPO and for listing non convertible instruments.
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