SEBI Update: SEBI clarifies timing of submission of NOC w.r.t. Schemes of Arrangement

Title : Schemes of Arrangement by Listed Entities – Clarification w.r.t. timing of submission of NOC from the lending scheduled commercial banks/ financial institutions/ debenture trustee

SEBI vide Circular dated 03rd January 2022 clarified that the NOC  shall be  submitted before  the  receipt  of the No-objection  letter from  stock  exchange in  terms  of  Regulation  37(1)  of  the SEBI  (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This clarification is issued w.r.t. NOC as required in terms of Circular dated November 16, 2021 and November 18,  2021.
Link of Circular:https://www.sebi.gov.in/legal/circulars/jan-2022/schemes-of-arrangement-by-listed-entities-clarification-w-r-t-timing-of-submission-of-noc-from-the-lending-scheduled-commercial-banks-financial-institutions-debenture-trustee_55166.html