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This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

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This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

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Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Mar 31, 2022

Clarification in Respect of Submission of NOC from Lenders by Listed Entities

SEBI, by way of Circulars dated November 16, 2021, and November 18, 2021, amended the conditions applicable to schemes of arrangement involving listed entities (‘Framework’) to inter alia provide for submission of a ‘No Objection Certificate’ (‘NOC’) from lenders of the listed entity to the stock exchange. Our write-up on these Circulars can be accessed here. SEBI, by way of Circulars dated January 3, 2022, and February 1, 2022, and applicable to Schemes filed with stock exchanges after November 16, 2021, has further amended the Framework as follows:

  1. It has been clarified that the NOC is required to be submitted before the issuance of the final no-objection letter from the stock exchange; and
  2. The NOC is required from not less than 75% of the secured creditors in value.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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