Voluntary delisting: book building exit process and shareholder protections determine exit price and tender rights. These Guidelines regulate delisting of securities, prescribing procedures for voluntary delisting-shareholder special resolution, public announcement, appointment of a merchant banker, and an exit opportunity determined by a book building process with a floor price based on prior trading; special rules apply for infrequently traded securities. Promoters may reject the discovered price but must restore public shareholding if delisting does not proceed. Stock exchanges may compulsorily delist for prolonged non compliance, must give notice and opportunity to be heard, and ensure determination of fair value and compensation to security holders when delisting occurs.
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.
Voluntary delisting: book building exit process and shareholder protections determine exit price and tender rights.
These Guidelines regulate delisting of securities, prescribing procedures for voluntary delisting-shareholder special resolution, public announcement, appointment of a merchant banker, and an exit opportunity determined by a book building process with a floor price based on prior trading; special rules apply for infrequently traded securities. Promoters may reject the discovered price but must restore public shareholding if delisting does not proceed. Stock exchanges may compulsorily delist for prolonged non compliance, must give notice and opportunity to be heard, and ensure determination of fair value and compensation to security holders when delisting occurs.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
