REGULATION 42
The listed entity shall intimate the record date to all
the Stock Exchanges where it is listed in case of
Corporate Actions like Mergers, Demergers where stock
derivatives are available on the stock of listed entity or
where listed entity stocks form part of an index on which
derivatives are available.
•Regulation 42 (Contd…)
 Notice in advance of atleast seven (7) clear working
days shall be given (excluding the date of intimation and
the record date) to stock exchanges of record date
specifying the purpose of record date.
The listed entity shall ensure the time gap of atleast
thirty (30 days) between two record dates.
REGULATION 94
The designated Stock Exchange, upon receipt of the
draft scheme of arrangement and the documents
prescribed by the Board as per Regulation 37, shall
forward the same to the Board, in the manner prescribed
by the Board.
The Stock Exchange shall submit to the Board its
“Objection Letter” or “No Objection Letter” within
thirty (30) days of the receipt of the draft scheme
•Regulation 94 (Contd…)
 The Stock Exchange shall issue the said letter to the
Listed Entity within seven (7) days of receipt of
comments from the Board, after suitably incorporating
the changes in the said letter.
The Stock Exchanges shall bring the observations or
objections, as the case may be , to the Notice of the Court
or Tribunal at the time of approval of the scheme of
arrangement.
Upon sanction of the scheme by the Court or Tribunal,
the designated stock exchange shall forward its
recommendations to the Board, on the documents
submitted by the listed entity in the terms of regulation
37.