16 Companies Await Stock Exchange NOC as SEBI Processes Crucial Scheme of Arrangement Filings

16 Companies Await Stock Exchange NOC as SEBI Processes Crucial Scheme of Arrangement Filings​

Key Corporate Restructuring Schemes Awaiting Regulator Scrutiny​

SEBI has released an updated processing status report for various Draft Schemes of Arrangement and Amalgamation filed by listed entities. The update reveals that a significant number of companies are awaiting No-Objection (NOC) from the relevant stock exchanges to move forward with their restructuring plans. These schemes cover areas ranging from agro-industries to specialized technology solutions, highlighting active corporate transformation across sectors.

As of July 3, 2026, SEBI has logged numerous filings that are currently pending external clearances. The status sheet details submissions by companies such as Mangalam Worldwide Limited and Vikas EcoTech Limited, both having filed their schemes for consideration on previous dates.

Other entities noted in the report include Vadilal Industries Limited, Diligent Media Corporation Ltd, Hubtown Ltd, Lemon Tree Hotels Limited, Thomas Cook (India) Limited, Modern Insulators Limited, Kaiser Corporation Ltd, EMAIndia Ltd, Piccadily Agro Industries Ltd, Capricorn Systems Global Solutions Ltd, Panther Industrial Products Ltd, National Fittings Ltd, Sahasra Electronic Solutions Limited, and Vindhya Telelinks Limited.

EPL Limited and Nirma Limited are also among the entities whose schemes have been filed for regulatory review, with both their applications noted on April 22, 2026, and May 6, 2026, respectively. All these companies currently show "NOC awaited from Exchange(s)" as the processing status.

Schemes Currently Under SEBI Examination​

Beyond pending exchange NOCs, several complex Draft Schemes of Arrangement are actively under review by SEBI. These filings involve major corporate changes such as amalgamations and restructuring efforts. The detailed status highlights specific communications and stages for each applicant.

Among those currently "Under Process," Race Eco Chain Limited's scheme has been moving forward since April 13, 2026, having received its NOC from exchanges on the same day of filing. POCL Enterprises Limited's arrangement is also under process after receiving a corresponding reply and date confirmation.

Other entities actively under SEBI scrutiny include UPL Limited, which has been processed since June 3, 2026. Similarly, Magnum Ventures Limited and Markolines Pavement Technologies Limited are both listed as "Under process." Arisinfra Solutions Limited's scheme is also being reviewed following the receipt of its NOC on June 24, 2026.

The processing pipeline includes multiple filings requiring further replies. For instance, clarification has been sought by SEBI from Gujarat Fluoro chemicals Limited and Birla Cable Limited and Vindhya Telelinks Limited, both related to schemes filed in February and June 2026.

Regulatory Timeline and Procedural Guidelines​

SEBI’s official guidance provides a clear timeline for completing the regulatory review of these corporate arrangements. The standard endeavor period for SEBI to provide comments is stipulated within 30 days of receiving certain key documentation.

These critical documents include a satisfactory reply on clarifications sought by SEBI from the listed entity, or an opinion from the Independent Chartered Accountant. Additionally, the date includes the receipt of Observation Letter or No-Objection letter from the stock exchanges themselves.

The report also advises applicants whose schemes remain unattended or face inordinate delays. Companies are directed to contact Chief General Manager Shri Deep Mani Shah or Executive Director Shri Jeevan Sonparote for necessary assistance, ensuring transparency and adherence to regulatory timelines throughout the process.