16 Companies Await Exchange Clearances: SEBI Puts Focus on Timelines Amid Scheme Progress
SEBI has released a comprehensive status update detailing the processing of various Draft Schemes filed by listed entities. The disclosure provides granular insight into which companies are currently awaiting clearances from stock exchanges and those whose schemes are actively undergoing review within SEBI. This structured release underscores the regulatory progression of corporate restructuring across several industries, including manufacturing, pharmaceuticals, and technology.Key Companies Awaiting Stock Exchange NOC Clearance
A substantial list of entities is currently pending No Objection Certificates (NOC) from the relevant stock exchanges. These companies filed their respective draft schemes ranging in importance and industry focus. Among those awaiting exchange approval are Mangalam Worldwide Limited, Vikas EcoTech Limited, and Vadilal Industries Limited, with filing dates spanning from March 2024 to May 2026.The list of firms whose processing is pending NOC includes Diligent Media Corporation Ltd and Hubtown Ltd. Additionally, Thomas Cook (India) Limited, Modern Insulators Limited, और Kaiser Corporation Ltd are among those entities awaiting the necessary regulatory sign-off from the exchanges as of July 10, 2026.
SEBI Intensifies Review of Major Scheme Applications
Several companies with complex corporate restructuring plans are actively under examination by SEBI. These schemes cover matters ranging from product amalgamation to organizational realignments. Race Eco Chain Limited and Natco Pharma Limited have both been flagged in the review process. Race Eco Chain Limited received clarification sought on July 10, 2026, while Natco Pharma Limited's scheme is currently under process following a reply receipt on July 06, 2026.Other significant schemes actively undergoing SEBI scrutiny include UPL Limited and Magnum Ventures Limited. The review of complex transactions such as the Draft Scheme of Amalgamation involving Chemgenix Laboratories Private Limited into Vilin Bio Med Limited is also underway. Markolines Pavement Technologies Limited has progressed to the ‘Under process’ status after receiving an NOC on June 29, 2026.
Procedural Mandate and Timeline Compliance for Restructuring Schemes
The SEBI circular provides crucial guidelines regarding the timeline for commentary on draft schemes. The regulatory body endeavors to provide its comments to stock exchanges within a mandated period of 30 days. This timeframe begins from the receipt of satisfactory replies, an opinion from Independent Chartered Accountants, or the observation letter from the stock exchanges.The disclosure also specifies that if any draft scheme remains unattended or experiences inordinate delay, companies are advised not to hesitate in writing to Chief General Manager Shri Deep Mani Shah or Executive Director Shri Jeevan Sonparote for guidance and intervention. This procedural clarity emphasizes the regulatory adherence required throughout the life cycle of a corporate restructuring initiative.
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