Photo of Nivedita Rao

Nivedita is highly experienced in a range of corporate areas, and specializes in mergers and acquisitions, foreign investment and corporate restructuring, both domestic as well as cross border. She also has extensive experience in private equity investments, joint ventures as well as a range of corporate advisory matters.

Nivedita has been recognised as one of the “40 Under 45” leading lawyers in India in 2013 by Indian Lawyer 250, the official research partner of the International Bar Association, ABA Section of International Law. She can be reached at nivedita.rao@cyrilshroff.com

The ‘Appointed Date’ Conundrum – Has the MCA Now Resolved This?

‘Appointed Date’ versus ‘Effective Date’

A scheme of arrangement is usually conditional upon the satisfaction of specified conditions. The date on which the conditions to a scheme are satisfied is referred to as the ‘effective date’ of the scheme. Schemes often provide that once all conditions are satisfied, they shall be deemed to have become effective on an identified date (which is not necessarily the same as the effective date) – this is usually referred to as the ‘appointed date’ of the scheme. Accordingly, while the conditions to a scheme are satisfied on an effective date, the transactions under the scheme are deemed to have occurred on an appointed date.
Continue Reading The ‘Appointed Date’ Conundrum – Has the MCA Now Resolved This?

Open Market for Buy-Back of Securities - SEBI

The Securities and Exchange Board of India (“SEBI”) introduced the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (the “SEBI Regulations”) with effect from September 11, 2018, which govern buy-backs undertaken by a listed company.

A listed company’s shares and other specified securities can be bought back using any of the following methods:
Continue Reading Open Market for Buy-Backs: Key Considerations