27th March 2017
NOTICE
Sub: Scheme of Arrangement by
listed entities and (ii) relaxation under Sub-Rule (7) of Rule 19 of the
Securities Contracts (Regulation) Rules, 1957
To all Listed companies
Attention
of such aforesaid listed companies are drawn to SEBI Circular Ref. No. CFD/DIL3/CIR/2017/21 dated March 10,
2017 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein
As per point no. 4 of the
aforesaid SEBI Circular “Sub-rule (7) of rule 19 of the Securities Contracts
(Regulation) Rules, 1957 (hereinafter referred to as “the SCRR”) provides that
Securities and Exchange Board of India (SEBI) may, at its own discretion or on
the recommendation of a recognised Stock Exchange, waive or relax the strict
enforcement of any or all of the requirements with respect to listing
prescribed by these rules.”
As per point no. 5 of the aforesaid SEBI
Circular “In consultation with the stock exchanges and market participants, it
has been decided to revise the regulatory framework for such schemes of
arrangement. Certain regulations as mentioned in this circular have been amended.
The details of revised requirements to be complied with are given in
Annexure-I.”
Applicability of the said SEBI
Circular is as follows:
“The schemes filed after the
date of this circular shall be governed under this circular. The Schemes
already submitted to the stock exchange in terms of SEBI Circular No.
CIR/CFD/CMD/16/2015 dated November 30, 2015, shall be governed by the
requirements specified in that circular.”
This is for information &
necessary action.
CS
Chandrani Datta
Executive-Listing