Exit mechanism for exclusively listed companies requires promoter-funded buyback or preferential capital raise to secure investor exit. ELCs on the Dissemination Board must either list on a nationwide exchange by raising capital through preferential allotment under ICDR-with designated exchanges granting in-principle approval and monitoring compliance and certain SAST thresholds exempted subject to promoter holding caps-or provide investor exit per Annexure-A, which mandates an independent valuer, valuer-determined acquisition at fair value, escrow-funded consideration, public announcement, specified offer and payment timelines, certification of compliance and removal from the DB upon satisfaction.
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.
Exit mechanism for exclusively listed companies requires promoter-funded buyback or preferential capital raise to secure investor exit.
ELCs on the Dissemination Board must either list on a nationwide exchange by raising capital through preferential allotment under ICDR-with designated exchanges granting in-principle approval and monitoring compliance and certain SAST thresholds exempted subject to promoter holding caps-or provide investor exit per Annexure-A, which mandates an independent valuer, valuer-determined acquisition at fair value, escrow-funded consideration, public announcement, specified offer and payment timelines, certification of compliance and removal from the DB upon satisfaction.
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