Arihant Capital Markets receives no adverse observations for scheme of arrangement
Arihant Capital Markets Ltd (ACML) has received an observation letter with no adverse comments from BSE Limited and a no-objection letter from the National Stock Exchange of India Limited for its composite scheme of arrangement. This development follows the Board of Directors' approval of the scheme, which is subject to further regulatory and other approvals. The scheme involves multiple entities including Arihant Financial Services Limited, Arihant Elite Financial Solutions Limited, Arihant Investment Banking Services Limited, and Arihant Money Marvel Wealth Management Limited. SEBI has provided specific comments regarding compliance with regulations, disclosure of proceedings, website updates, and transfer of liabilities. The scheme remains contingent on obtaining all necessary approvals.
Key Highlights
- BSE and NSE have issued no adverse/no-objection letters for the scheme.
- The composite scheme involves several group entities.
- SEBI has provided specific compliance and disclosure directives.
- The arrangement is subject to further regulatory approvals.
- ACML has updated its website with relevant scheme information.
Price Impact
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