SEBI vide Notification No. SEBI/LAD/NRO/GN/2016-17/029 on Wednesday, 15th February, 2017 notified Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2017 which shall come into force on the date of publication in Official Gazette. This hereby undertakes following amendment in the Regulation-37 which is for Draft Scheme of Arrangement & Scheme of Arrangement where prior Observation Letter or No-objection letter is to be obtained from Stock exchange before filing with Court or Tribunal:
- Inserting sub-regulation (6) which states that nothing contained in this regulation shall apply to draft schemes which is solely for merger of a wholly owned subsidiary with its holding company. However, said draft schemes shall be filed with the stock exchanges for the purpose of disclosures.
The said Notification of SEBI is available at the following link:SEBI noti. 15.02.2017LODR amndReg2017