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
Cancellation of depository receipts required after delisting, mandating conversion to underlying equity within one year. After delisting from all recognized stock exchanges with nationwide trading terminals, the company must terminate the depository receipts program(s), compulsorily cancel all outstanding depository receipts issued overseas and convert them into the underlying equity shares in the home jurisdiction within one year of such delisting.
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.
Cancellation of depository receipts required after delisting, mandating conversion to underlying equity within one year.
After delisting from all recognized stock exchanges with nationwide trading terminals, the company must terminate the depository receipts program(s), compulsorily cancel all outstanding depository receipts issued overseas and convert them into the underlying equity shares in the home jurisdiction within one year of such delisting.
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