Securities And Exchange Board Of India - Subsection
Section 94(2) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(2)The stock exchange(s) shall submit to the Board its Objection Letter or No-Objection Letter on the draft scheme of arrangement after inter-alia ascertaining whether the draft scheme of arrangement is in compliance with securities laws within thirty days of receipt of draft scheme of arrangement or within seven days of date of receipt of satisfactory reply on clarifications from the listed entity and/or opinion from independent chartered accountant, if any, sought by stock exchange(s), as applicable.
