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    <title>SEBI (DELISTING OF EQUITY SHARES) REGULATIONS, 2009 - AN OVERVIEW</title>
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    <description>The regulations prescribe the framework for delisting of equity shares, distinguishing voluntary and compulsory routes, specifying when an exit opportunity must be provided to public shareholders, and setting procedural requirements for board and shareholder approvals, exchange applications, audit documentation and valuation. Stock exchanges must follow procedural safeguards, apply Schedule III criteria in compulsory cases, determine fair value through appointed valuers, and enforce restrictions on relisting and market access; separate streamlined conditions apply to small companies.</description>
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