Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter XB ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISES
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Migration to SME exchange requires shareholder special resolution and issuer eligibility, with non promoter votes favoring at least double opposition. A listed issuer with post-issue face value capital below the prescribed threshold may migrate its specified securities to an SME exchange if shareholders pass a special resolution by postal ballot approving the migration and the issuer fulfils the SME exchange's listing eligibility; the special resolution is effective only if votes by shareholders other than promoters in favour are at least twice the votes by those shareholders against.
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.
Migration to SME exchange requires shareholder special resolution and issuer eligibility, with non promoter votes favoring at least double opposition.
A listed issuer with post-issue face value capital below the prescribed threshold may migrate its specified securities to an SME exchange if shareholders pass a special resolution by postal ballot approving the migration and the issuer fulfils the SME exchange's listing eligibility; the special resolution is effective only if votes by shareholders other than promoters in favour are at least twice the votes by those shareholders against.
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