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TMI BlogRevised procedure for seeking prior approval for change in control through single windowX X X X Extracts X X X X X X X X Extracts X X X X ..... red Bankers to an Issue All Registered Credit Rating Agencies All Registered Registrar to an Issue and Share Transfer Agents Dear Sir/Madam, Sub: Revised procedure for seeking prior approval for change in control through single window 1) SEBI vide circular No.MIRSD/MSS/Cir-30/13289/03 dated July 09, 2003 addressed to all the Stock exchanges specified, inter alia, the procedure for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proval of SEBI is required. 3) With a view to expedite the process of granting prior approval, it has been decided to adopt a single window clearance at SEBI , for the above intermediaries in case of their having multiple registrations with SEBI. Accordingly, in consultation with the major stock exchanges and market participants, it has been decided to adopt the following procedure; (i) In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same. Details of litigation, if any. That all the fees due to SEBI have been paid. That there will not be any change in the Board of Directors of incumbent, till the time prior approval is granted. That the incumbent shall inform all its existing investors / clients in order to enable them to take informed decision regarding their continuance or otherwise with the entity with new manag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd also disseminate the same on their websites. (ii) make amendments to the relevant bye-laws, rules and regulations as deemed necessary for the implementation of the above decision in coordination with one another to achieve uniformity in approach. (iii) communicate to SEBI, the status of the implementation of the provisions of this circular in their Monthly Development Reports. 5) This ..... X X X X Extracts X X X X X X X X Extracts X X X X
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