Part C - SPECIAL PROVISIONS FOR A SUBSIDIARY COMPANY GETTING DELISTED THROUGH A SCHEME OF ARRANGEMENT WHEREIN THE LISTED HOLDING COMPANY AND THE SUBSIDIARY COMPANY ARE IN THE SAME LINE OF BUSINESS
Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021. Part B Conditions and procedure for delisting where exit opportunity is required
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Initial public announcement requirement ensures immediate exchange dissemination and company notice, with prescribed disclosures and no misleading omissions. An acquirer deciding to voluntarily delist must make an initial public announcement on the decision date to all listed stock exchanges, which shall immediately disseminate it; a copy must be sent to the company within one working day. The announcement must state reasons for delisting and include an undertaking to comply with specified regulatory obligations, and it must not omit relevant information or be misleading.
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.
Initial public announcement requirement ensures immediate exchange dissemination and company notice, with prescribed disclosures and no misleading omissions.
An acquirer deciding to voluntarily delist must make an initial public announcement on the decision date to all listed stock exchanges, which shall immediately disseminate it; a copy must be sent to the company within one working day. The announcement must state reasons for delisting and include an undertaking to comply with specified regulatory obligations, and it must not omit relevant information or be misleading.
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