In-principle approval for delisting requires listed entities to apply to exchanges and exchanges to decide within prescribed timelines. In-principle approval for voluntary delisting of non-convertible debt securities and non-convertible redeemable preference shares requires the listed entity to apply to the relevant stock exchange within a limited period after board or statutory approvals; the exchange must dispose of a complete application within a prescribed timeframe and consider board approvals, investor grievance resolution, payment of listing fees or penalties, compliance with listing regulations, pending litigation or regulatory actions, and any outstanding penalties or restrictions by the regulator before granting in-principle approval.