SEBI clarifies on its Scheme(s) of Arrangement by Debt Listed Entities


The Securities and Exchange Board of India (SEBI) has issued a clarification on its Scheme(s) of Arrangement by entities who have listed their Non-Convertible Debt securities (NCDs)/ Non-convertible Redeemable Preference shares (NCRPS) (‘debt listed entities’). The clarification was issued on 9th December, 2022.

According to the clarification:

The circular on this Scheme(s) of Arrangements shall not apply to Schemes of Arrangement which solely provide for an arrangement between a debt listed entity and its unlisted wholly owned subsidiary. In such cases, the debt-listed entity shall file the draft Scheme of Arrangement with Stock Exchange(s) for the purpose of disclosure. the Stock Exchange(s) shall disseminate the scheme documents on their websites.

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