NCLAT: IRP Has Authority to Take Possession of Assets Owned by Corporate Debtor  ||  NCLAT: NCLT Can Direct Forwarding a Copy of its Order to Relevant Statutory Authorities  ||  Delhi HC: Centre to Expedite Process of Accessibility Features in OTT platforms for PwDs  ||  Delhi HC: Once Worker Provides Testimony Under Oath ‘Burden of Proof’ Shifts on Employer  ||  SC: There Cannot be Discrimination in Matter of Payment of Pension to Retired Judges  ||  SC: India is Not a Dharamshala that Can Entertain Foreign Nationals from All Over  ||  SC: Can Quash Domestic Violence Act Complaints Under Section 482 of CrPC  ||  Supreme Court: Can’t Use Statement of One Accused against Another  ||  SC: Inclusion of Name in Draft NRC Cannot Annul Foreigners Tribunal’s Declaration as Non-Citizen  ||  Supreme Court: Minimum Practice of 3 Years Mandatory to Enter Judicial Service    

Schemes of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of Rule 19 of the Securities Contracts (Regulation) Rules, 1957- (Securities and Exchange Board of India) (23 Mar 2017)

MANU/SSMD/0009/2017

Capital Market

This is with reference to SEBI Circular No.CFD/DIL3/CIR/2017/21 dated March 10, 2017 on the captioned subject. Para 8 of the aforesaid circular provides that the pricing provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 shall be followed in case of issuance of shares to a select group of shareholders or shareholders of unlisted companies pursuant to such schemes. It is now clarified that the 'relevant date' for the purpose of computing pricing shall be the date of Board meeting in which the scheme is approved. The Stock Exchanges are advised to bring the provisions of this circular to the notice of Listed Entities and also to disseminate the same on their website. This circular is issued under Section 11 of the SEBI Act, 1992 and regulations 11, 37 and 94 read with regulation 101(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Rule 19(7) of Securities Contracts (Regulation) Rules, 1957. This circular is available on SEBI website. under the categories "Legal Framework/Circulars".

Tags : ENTITIES   SCHEME   ARRANGEMENT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved