In-principle approval for delisting: application, audit report and stock exchange checks ensure compliance and information requirements.

Regulation 12 requires a company seeking in-principle approval for delisting to apply to the relevant recognised stock exchange in the form specified within the prescribed timeline from the special resolution or statutory approvals and to attach an audit report covering the requisite prior period; the recognised stock exchange must dispose of a complete application within a short prescribed period, may not unfairly withhold approval, and may request information or assurances on compliance with delisting rules, investor grievance resolution, listing fee payment, material listing obligations, material litigation or regulatory actions, and other relevant matters.

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