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of <h1>SEBI Regulation 11 Requires Escrow Account for Delisting, Ensuring Funds for Shareholder Payments Before Public Announcement.</h1> Regulation 11 of the SEBI (Delisting of Equity Shares) Regulations, 2009 mandates that before a public announcement for delisting, the acquirer or promoter must open an escrow account, depositing the estimated consideration based on the floor price and outstanding equity shares. Upon determining the final price, additional funds must be deposited to cover the total due amount. The escrow account can consist of cash, a bank guarantee, or both, and must be managed to ensure funds are available for shareholder payments. Any remaining funds post-payment are released to the promoter, and bank guarantees must remain valid until all payments are completed.
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