Prior approval for change in control: SEBI prescribes online application, disclosures and fit and proper compliance for intermediaries. Intermediaries such as Merchant Bankers and Bankers to an Issue must obtain prior approval from SEBI for change in control via the SI Portal, submitting specified disclosures including current and proposed shareholding, past regulatory actions, investor complaints, litigation, fee confirmation and a stamped declaration undertaking board continuity, investor notification and compliance with the fit and proper criteria; additional exchange/clearing/depository approvals apply where relevant, and special procedures govern changes effected through NCLT sanctioned schemes requiring SEBI in principle approval followed by final approval on submission of the NCLT order and related documents.
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: SEBI prescribes online application, disclosures and fit and proper compliance for intermediaries.
Intermediaries such as Merchant Bankers and Bankers to an Issue must obtain prior approval from SEBI for change in control via the SI Portal, submitting specified disclosures including current and proposed shareholding, past regulatory actions, investor complaints, litigation, fee confirmation and a stamped declaration undertaking board continuity, investor notification and compliance with the fit and proper criteria; additional exchange/clearing/depository approvals apply where relevant, and special procedures govern changes effected through NCLT sanctioned schemes requiring SEBI in principle approval followed by final approval on submission of the NCLT order and related documents.
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