SEBI clarifies on submission of NOC from banks, FIs for mergers and demergers of listed companies
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- Last Updated on 5 January, 2022
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Circular No. SEBI/HO/CFD/SSEP/CIR/P/2022/003, Dated: 3-1-2022
The SEBI has clarified that for the scheme of arrangement by the Listed Entities, the NOC from the lending scheduled commercial banks/ FI/ debenture trustee shall be submitted before the receipt of the No-objection letter from the stock exchange in terms of Regulation 37(1) of the SEBI (LODR) Regulations, 2015. Earlier SEBI vide. Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/659 dated November 18, 2021, notified the requirement of placing NOC before stock exchange. SEBI further directed the recognized stock exchanges to bring the provisions of this circular to the notice of the listed companies and also to disseminate the same on their website.
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