SEBI
Change in control of the asset management company involving scheme of arrangement under Companies Act, 2013 ( January 31 , 2022 ) 
  • Regulation 22(e) of SEBI (Mutual Fund) Regulations 1996 (“MF Regulations”), inter-alia , requires that no change in the control of the asset management company (“AMC”) shall be made unless prior approval of the trustees and SEBI is obtained.
  • The application seeking approval for the proposed change in control of the AMC shall be filed with SEBI prior to filing the application with the NCLT.
  • Upon being satisfied with compliance of the applicable regulatory requirements, an in-principle approval will be granted by SEBI.

RBI PRESS RELEASES

The Punjab and Maharashtra Co-operative Bank Ltd. branches to operate as Unity Small Finance Bank Ltd. branches from January 25, 2022
  • The Government of India has today sanctioned and notified the Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd. (PMC Bank) with Unity Small Finance Bank Ltd. (USFBL).
  • The Scheme of amalgamation notified  envisages takeover of the assets and liabilities of PMC Bank, including deposits, by the USFBL in terms of the provisions of the scheme.

MyLawman is now on Telegram (t.me/mylawman) Follow us for regular legal updates. Follow us on Google News, Instagram, LinkedInFacebook & Twitter or join our whats app group .You can also subscribe for our Newsletter for Email Updates.