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        SEBI

        Regulation 38 - Delisting in case of winding up of a company and de-recognition of a stock exchange

        Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
        Part D
        SPECIAL PROVISIONS FOR DELISTING BY OPERATION OF LAW

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        Delisting by operation of law requires shareholder rights to follow winding up laws and lets the regulator set listed share status. Where a company with listed equity shares undergoes winding up, shareholder rights shall be governed by the laws applicable to those winding up proceedings. Where the regulator withdraws or refuses renewal of recognition of a stock exchange, the regulator may, in the interest of investors, pass appropriate orders concerning the status of equity shares 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 requires shareholder rights to follow winding up laws and lets the regulator set listed share status.

                              Where a company with listed equity shares undergoes winding up, shareholder rights shall be governed by the laws applicable to those winding up proceedings. Where the regulator withdraws or refuses renewal of recognition of a stock exchange, the regulator may, in the interest of investors, pass appropriate orders concerning the status of equity shares listed on that exchange.


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