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
Compulsory delisting: exchanges must verify compliance, trace promoters, notify shareholders, and pursue prosecutions or strike off remedies. Recognised stock exchanges must assess prescribed statutory grounds and the extent of alleged non compliance and its effect on public shareholders before compulsorily delisting equity shares; trace and contact promoters; publish names of proposed companies and promoters on the exchange website; verify compliance with company law via the Registrar of Companies; and, where appropriate, initiate prosecutions or seek winding up or strike off under applicable laws.
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.
Compulsory delisting: exchanges must verify compliance, trace promoters, notify shareholders, and pursue prosecutions or strike off remedies.
Recognised stock exchanges must assess prescribed statutory grounds and the extent of alleged non compliance and its effect on public shareholders before compulsorily delisting equity shares; trace and contact promoters; publish names of proposed companies and promoters on the exchange website; verify compliance with company law via the Registrar of Companies; and, where appropriate, initiate prosecutions or seek winding up or strike off under applicable laws.
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