MAREKT UPDATES: Market regulator, Securities and Exchange Board of India (Sebi) has asked listed entities that are planning to undertake a scheme of arrangement or are already involved in one and having listed bonds or non-convertible redeemable preference shares to comply with certain requirements.

In a circular on Friday, SEBI said the listed companies must select one designated stock exchange having nationwide trading terminals and should submit the requisite documents to the select exchange. The listed entity should include information related to the unlisted entity that is involved in the amalgamation and also submit a valuation report from a registered valuer.

The provisions of this circular shall be applicable soon. The regulator also said that entities should file auditor's certificate, report on unpaid dues, fines and penalties and submit a report on complaints and comments received by the listed entity on the draft scheme of arrangement to the exchanges.

 Sebi is also planning to overhaul the existing investors complaint system SCORES by introducing a newer version of its website and mobile application features. In this regard, it has invited expressions of interest (EoIs) from interested parties to replace the old system with a new version, according to a notice on Friday.

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