TaxTMI 
TaxTMI 
Schemes of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of Rule 19 of the Securities Contracts (Regulation) Rules, 1957
X X X X Extracts X X X X
X X X X Extracts X X X X
....ment by Listed Entities and (ii) Relaxation under Sub-rule (7) of Rule 19 of the Securities Contracts (Regulation) Rules, 1957 1. SEBI Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017 has laid down the framework for Schemes of Arrangement by Listed Entities and relaxation under Rule 19 (7) of the Securities Contracts (Regulation) Rules, 1957. 2. SEBI has received representations suggesting....
X X X X Extracts X X X X
X X X X Extracts X X X X
..... This circular is available on SEBI website at www.sebi.gov.in under the category "Legal / Circulars". Yours faithfully, Narendra Rawat Deputy General Manager [email protected] Annexure Amendments to Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017 ('the circular') 1. Amendment to Para 7 Para 7 of the circular shall be replaced with the following: "7. The Provisions of this ci....
X X X X Extracts X X X X
X X X X Extracts X X X X
....al conflict of interest among themselves or with the company, including that of common directorships or partnerships." 3. Amendment to Para(I)(A)(3)(b) Para (I)(A)(3)(b) of Annexure I of the circular shall be replaced with the following: "The percentage of shareholding of pre-scheme public shareholders of the listed entity and the Qualified Institutional Buyers (QIBs) of the unlisted entity, i....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ll be locked-in for a period of one year from the date of listing of the shares of the unlisted issuer. (c) No additional lock-in shall be applicable if the post scheme shareholding pattern of the unlisted entity is exactly similar to the shareholding pattern of the listed entity. Provided that the shares locked-in under this clause may be pledged with any scheduled commercial bank or public f....