Delisting of public sector undertakings: fixed-price process with valuation-based floor and mandatory premium over valuation. Delisting of public sector undertakings (excluding banks, NBFCs and insurers) must be by fixed-price process, approved by shareholders via special resolution through postal ballot or e-voting, with an explanatory statement. The acquirer together with other public sector undertakings must meet the prescribed shareholding threshold. The floor price is the highest of recent volume weighted acquisition price, highest recent acquisition price, and a joint valuation price from two independent registered valuers, and the delisting price must include a mandatory premium over that floor. Provisions govern transfer and holding of unpaid amounts and their eventual transfer to investor protection funds where a voluntary strike-off occurs within the specified post-delisting window.
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 public sector undertakings: fixed-price process with valuation-based floor and mandatory premium over valuation.
Delisting of public sector undertakings (excluding banks, NBFCs and insurers) must be by fixed-price process, approved by shareholders via special resolution through postal ballot or e-voting, with an explanatory statement. The acquirer together with other public sector undertakings must meet the prescribed shareholding threshold. The floor price is the highest of recent volume weighted acquisition price, highest recent acquisition price, and a joint valuation price from two independent registered valuers, and the delisting price must include a mandatory premium over that floor. Provisions govern transfer and holding of unpaid amounts and their eventual transfer to investor protection funds where a voluntary strike-off occurs within the specified post-delisting window.
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