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        SEBI

        Regulation 20 - Payment of consideration and return of equity shares

        Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009
        Chapter IV
        EXIT OPPORTUNITY

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        Payment of consideration: promoter must transfer funds from escrow and pay verified shareholders within prescribed timelines. Regulation 20 requires the promoter, upon success of a delisting offer, to open a special bank account and transfer the entire consideration from the escrow account; verified shareholders must be paid the final announced price within ten working days of offer closure, and deposited or pledged shares not accepted must be returned or released to the shareholder within ten working days.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Payment of consideration: promoter must transfer funds from escrow and pay verified shareholders within prescribed timelines.

                              Regulation 20 requires the promoter, upon success of a delisting offer, to open a special bank account and transfer the entire consideration from the escrow account; verified shareholders must be paid the final announced price within ten working days of offer closure, and deposited or pledged shares not accepted must be returned or released to the shareholder within ten working days.


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