Regulation 28 - Delisting in case of winding up, derecognition, etc.
Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 Chapter VII SPECIAL PROVISIONS FOR SMALL COMPANIES AND DELISTING BY OPERATION OF LAW
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Delisting by operation of law: regulator may determine listed equity status when exchange recognition is withdrawn. Regulation 28 provides that in winding up proceedings of a listed company, shareholder rights shall be governed by the laws applicable to those proceedings; and where recognition of a stock exchange is withdrawn or not renewed, the regulator may, in the interest of investors, pass appropriate orders on the status of equity shares of companies listed on that exchange.
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.
Delisting by operation of law: regulator may determine listed equity status when exchange recognition is withdrawn.
Regulation 28 provides that in winding up proceedings of a listed company, shareholder rights shall be governed by the laws applicable to those proceedings; and where recognition of a stock exchange is withdrawn or not renewed, the regulator may, in the interest of investors, pass appropriate orders on the status of equity shares of companies listed on that exchange.
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