ABC Ltd. is planning to merge with XYZ Ltd. which is listed in BSE and NSE. It approaches X to provide a search report on the information of XYZ Ltd. filed with BSE and NSE. (i) State the possibility of providing such a

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2023
ABC Ltd. is planning to merge with XYZ Ltd. which is listed in BSE and NSE. It approaches X to provide a search report on the information of XYZ Ltd. filed with BSE and NSE. (i) State the possibility of providing such a Search Report to ABC Ltd. (ii) Is the web-site of SEBI supportive in this regard ? (iii) Indicate at least six documents/information of listed companies, which are available in the public domain of the Stock Exchanges for due-diligence and analysis purposes to equip for providing the Search Report.

Answer & Explanation:

(i) Yes. The information filed with BSE and NSE by listed companies (in this case XYZ Ltd.), which are available in public domain, can be utilized by X, for analysis and due-diligence and get equipped in providing a Search Report to ABC Ltd. (ii) Yes. The SEBI website is supportive as it can assist X by providing updated Regulations, rules, circulars, notifications, etc. as well as the information of the listed companies (in this case XYZ Ltd.) which are available in public domain of SEBI, hence the website of SEBI may be utilized by X, for analysis and due-diligence and get equipped in providing a Search Report to ABC Ltd. (iii) Information/documents which are available in the public domain of Stock Exchanges- Corporate Announcements Corporate Actions Financial Results Documents of Board Meetings Sustainability Reports Buyback / Redemption Corporate Information Documents of shareholders meetings Voting results Shareholding pattern Disclosures Offer documents Statement of investor complaints Related Party Transactions.

Topics: Due Diligence

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