Conditions and procedure for delisting where exit opportunity is required

Conditions and procedure for delisting where exit opportunity is required https://www.taxtmi.com/acts?id=34453 Regulation 8 prescribes prerequisites for voluntary delisting where an exit opportunity is required: board approval, shareholder approval by special resolution with specified public shareholder voting superiority, in principle approval from the recognised stock exchange followed by a final application within prescribed timeframes. Prior disclosures to exchanges and appointment of a merchant banker for due diligence are required, with submission of trading and off market transaction details; the merchant banker must certify compliance of promoters/acquirers with securities laws and whether transactions facilitating delisting contravened applicable restrictions. The stock exchange must process applications within the prescribed short period and may require verification of listed compliance and investor protection matters, and the final application must include proof of providing the exit opportunity. en-us Sat, 05 Jan 2019 14:07:36 +0530 Sat, 05 Jan 2019 15:47:26 +0530 TaxTMI RSS Generator Conditions and procedure for delisting where exit opportunity is required https://www.taxtmi.com/acts?id=34453 Regulation 8 prescribes prerequisites for voluntary delisting where an exit opportunity is required: board approval, shareholder approval by special resolution with specified public shareholder voting superiority, in principle approval from the recognised stock exchange followed by a final application within prescribed timeframes. Prior disclosures to exchanges and appointment of a merchant banker for due diligence are required, with submission of trading and off market transaction details; the merchant banker must certify compliance of promoters/acquirers with securities laws and whether transactions facilitating delisting contravened applicable restrictions. The stock exchange must process applications within the prescribed short period and may require verification of listed compliance and investor protection matters, and the final application must include proof of providing the exit opportunity. Act-Rules SEBI Sat, 05 Jan 2019 14:07:36 +0530 https://www.taxtmi.com/acts?id=34453