SC: Casual Workers Can't be Denied Regularisation if Similar Daily Wagers were Regularised  ||  Supreme Court: Illegal Change of Land Use under Punjab Act Cannot be Legalised Later  ||  Allahabad High Court: Magistrate Must Consider Closure Report Even After Taking Cognizance  ||  Allahabad HC: CGST Arrest Memo Must Include Grounds as Annexure; Reasons to Believe Not Needed  ||  Kerala HC: Petitioner’s Identity Must be Verified Via SHO in Cases of Bank Account Defreezing  ||  J&K&L HC: Undenied Pleadings are Deemed Admitted by Implication under the CPC  ||  Kerala HC: Transfer Order Pending Disciplinary Proceedings Cannot be Disguised as Punishment  ||  Allahabad HC: GST, Incentives, 0r Festival Advances Cannot be Deducted From Employee’s Retiral Dues  ||  SC: Absconding Accused Cannot Claim Anticipatory Bail Solely Because a Co-Accused Was Acquitted  ||  Supreme Court: District Cricket Bodies Must Adopt Good Governance Voluntarily, Not Follow BCCI Rules    

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 2026 - All Rights Reserved