Delisting of securities: rules set grounds, hearing, and buyback obligation at fair price under SEBI regulations. Rule 21 provides a framework for delisting of securities: prescribed grounds (losses with negative net worth; prolonged trading suspension; infrequent trading; specified convictions; unknown or false addresses; inadequate public shareholding), a requirement of reasonable opportunity to be heard, joint and several liability of the company, promoters and directors to purchase outstanding securities at a fair price determined under SEBI regulations, and provisions for voluntary delisting subject to minimum listing period, public shareholder approval and purchase obligations, with SEBI able to dispense with the purchase condition in specified circumstances.
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 of securities: rules set grounds, hearing, and buyback obligation at fair price under SEBI regulations.
Rule 21 provides a framework for delisting of securities: prescribed grounds (losses with negative net worth; prolonged trading suspension; infrequent trading; specified convictions; unknown or false addresses; inadequate public shareholding), a requirement of reasonable opportunity to be heard, joint and several liability of the company, promoters and directors to purchase outstanding securities at a fair price determined under SEBI regulations, and provisions for voluntary delisting subject to minimum listing period, public shareholder approval and purchase obligations, with SEBI able to dispense with the purchase condition in specified circumstances.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
