Larsen & Toubro Receives Observations from BSE and NSE Regarding Proposed Scheme of Arrangement
Larsen & Toubro Limited (L&T) has received observation letters from the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) regarding the proposed Scheme of Arrangement between Larsen & Toubro Limited and L&T Realty Properties Limited (LTRPL). The observations were issued on March 18 and 19, 2026, respectively, as required under Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.The Scheme of Arrangement, approved by the Board of Directors on December 8, 2025, involves Larsen & Toubro Limited as the Transferor Company and L&T Realty Properties Limited as the Transferee Company.
The BSE's letter outlined several observations, including compliance with Regulation 11 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the need to disclose ongoing adjudications and recovery proceedings. The NSE’s observation letter mirrored these points.
Both BSE and NSE advised that the scheme is acted upon subject to compliance with relevant clauses and that no changes to the draft scheme, excluding those mandated by regulators, should be made without specific written consent. They also emphasized the importance of providing detailed information to shareholders and ensuring equity shares issued under the scheme are in demat form.
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