MANU/SSMD/0003/2022

Ministry : Securities and Exchange Board of India

Department/Board : Corporation Finance Department

Circular No. : SEBI/HO/CFD/DIL2/CIR/P/2022/11

Date : 01.02.2022

Notification/ Circulars Referred : Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/0000000659 dated November 18, 2021 MANU/SSMD/0048/2021;Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated December 22, 2020 MANU/SSMD/0074/2020

Citing Reference:
Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/0000000659 dated November 18, 2021 MANU/SSMD/0048/2021  Referred

Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated December 22, 2020 MANU/SSMD/0074/2020  Referred

To

All Recognized Stock Exchanges (except Commodity Exchanges)
All Recognized Depositories
Issuer Companies
Merchant Bankers and Brokers registered with SEBI
Registrars to an Issue

Dear Sir/Madam,

Schemes of arrangement by listed entities

1. SEBI vide Circular No. SEBI/HO/CFD/DIL2/CIR/0/2021 dated November 16, 2021 and Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/0000000659 dated November 18, 2021, has notified changes to the Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 dated December 22, 2020 ('the circular').

2. In respect of the No Objection Certificate (NOC) as required in terms of Circular dated November 16, 2021 and November 18, 2021, Part I Para A 2(k) of the circular* shall read as follows:

No Objection Certificate (NOC) from the lending scheduled commercial banks/financial institutions/debenture trustees, from not less than 75% of the secured creditors in value.