27th March 2017





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