SEBIs’ circular on Scheme of Arrangement: Aligning the compliances with the Companies Act, 2013, by Barsha Dikshit and Trupti Upadhyay

Introduction

 

After such a long wait of around 3 months since the enforcement of provisions of the Companies Act, 2013 (‘Act, 2013’) dealing with Compromise or arrangements, Securities of Exchange Board of India (‘SEBI’) finally came up with a Circular [1]dated March 10, 2017 (‘the Circular’) aligning the provisions to be followed by listed companies pertaining to the Scheme of Arrangements with the provisions of the Act, 2013. Provisions of the Act, 2013 dealing with the Compromise and arrangements have already been enforced by MCA. However, since nothing had been Read more