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of <h1>SEBI Clarifies Transitional Provisions: Delisting Can Follow Old Guidelines if Acted Within 3 Months of Circular.</h1> The Securities and Exchange Board of India (SEBI) issued a circular clarifying the applicability of transitional provisions under the Delisting Regulations, 2009. If a special resolution was passed under the previous Delisting Guidelines, 2003, before the new regulations commenced, the delisting process can follow the old guidelines if acted upon within three months from the circular's date. 'Acted upon' involves initiating activities like the book-building process for exit price determination. If not completed within this timeframe, a new resolution under the 2009 regulations is required. This guidance is directed at stock exchanges and merchant bankers for compliance.
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