Master Circular on (i) Scheme of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957

Last updated: 23 December 2020

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The Securities and Exchange Board of India (SEBI) has issued a Master Circular consolidating all previous circulars and directions regarding schemes of arrangement for listed entities. This document serves as a single point of access for users to find the detailed requirements and updated regulations. It compiles all relevant and operational circulars as of December 22, 2020, ensuring clarity and ease of compliance for listed companies.

Securities and Exchange Board of India

MASTER CIRCULAR

SEBI/HO/CFD/DIL1/CIR/P/2020/249

December 22, 2020

To,

All listed entities
All the recognized Stock Exchanges

Dear Sir / Madam,

Master Circular on (i) Scheme of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957

1. Securities and Exchange Board of India (SEBI), from time to time, has been issuing various circulars/directions which lay down the detailed requirements to be complied by listed entities while undertaking schemes of arrangements.

2. In order to enable the users to have access to the applicable circulars at one place, Master Circular in respect of schemes of arrangement has been prepared.

3. This Master Circular is a compilation of relevant and updated circulars issued by SEBI which deal with schemes of arrangement and which are operational as on date of this circular.

4. A list of SEBI circulars compiled in this Master Circular is given in Appendix at the end of this Master Circular.

5. In case of any inconsistency between the Master Circular and the applicable circulars, the content of the relevant circular shall prevail.

6. This circular is available on SEBI website at www.sebi.gov.in.

Yours faithfully

Yogita Jadhav
General Manager

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FAQ :

The purpose of this Master Circular is to provide listed entities with a single, consolidated document containing all applicable and updated circulars and directions related to schemes of arrangement.

This Master Circular is intended for all listed entities and all recognised stock exchanges.

It covers the requirements for listed entities undertaking schemes of arrangement and also includes information on relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957.

A list of the SEBI circulars compiled in this Master Circular is provided in the Appendix at the end of the document.

In case of any inconsistency between the Master Circular and the applicable circulars, the content of the relevant specific circular will prevail.

This circular is available on the SEBI website at www.sebi.gov.in.