The Securities and Exchange Board of India (SEBI) issued a circular dated 3 January 2018 giving effect to certain relaxations in the regulatory framework governing schemes of arrangements (which includes mergers/demergers) involving listed companies, which comprised a SEBI circular dated 10 March 2017 and SEBI circular dated 21 September 2017.
The March 2017 circular prescribed the requirements and process to be followed before a scheme of arrangement is submitted for the sanction of the National Company Law Tribunal (NCLT), and once the sanction has been obtained from the high court or NCLT, as the case may be.
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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bengaluru, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
