Mergers & Acquisitions

SEBI COMPLIANCES FOR LISTED COMPANIESSEBI COMPLIANCES FOR LISTED COMPANIES

Anuroop Omkar & Kritika KrishnamurthyPrincipal Associate Senior Associate

Lakshmikumaran & Sridharan

Classification of M&A Activities

Towards a Simpler Business Environment

Court Approved M&AUNDER SECTIONS 391 TO 394 OF COMPANIES ACT, 1956

Exemptions

Pre-Filing Compliances

Post Approval CompliancesCompliance TimelinesDisclosure of Material Event to Stock Exchange

24 hours

Disclosure of Material Event on Company Website

24 hours

Statement of Shareholding Pattern with Stock Exchange

10 days

Intimate Record Date or Date of Closure of Transfer Books

7 clear working days before record date

Disclose trading by insiders to stock exchange

Within two trading days of receipt of the disclosure or from becoming aware of such information

Key Changes

Detailed Circular Awaited from SEBI

Reverse Merger

Acquisition & TakeoverOTHER THAN THROUGH COURT APPROVAL ROUTE UNDER COMPANIES ACT

Rule 25

SLUMP SALE & ASSET TRANSFER TRANSFER OF SHARES

MATERIAL EVENTS

Post Approval CompliancesCompliance TimelinesDisclosure of Material Event to Stock Exchange

24 hours

Disclosure of Material Event on Company Website

24 hours

Statement of Shareholding Pattern with Stock Exchange

10 days

Intimate Record Date or Date of Closure of Transfer Books

7 clear working days before record date

Disclose trading by insiders to stock exchange

Within two trading days of receipt of the disclosure or from becoming aware of such information