https://www.taxtmi.com/notifications?id=142319 Amendments expand definitions and impose sale prohibitions on promoters, promoter groups and acquirers for six months prior to board approval and until completion of delisting. Boards must disclose delisting proposals, appoint a merchant banker, and provide two years of trading and off-market details for the top twenty-five shareholders for merchant banker due diligence. The merchant banker must certify compliance with securities laws and whether transactions were undertaken to facilitate the delisting. The board must certify compliance, adherence to conduct conditions, and that delisting serves shareholders' interest. Timelines and book-building settlement rules are shortened and revised; a power to relax enforcement and a fast-track delisting route for small inactive companies are introduced. en-us Tue, 24 Mar 2015 00:00:00 +0530 Thu, 01 Aug 2024 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=142319 Amendments expand definitions and impose sale prohibitions on promoters, promoter groups and acquirers for six months prior to board approval and until completion of delisting. Boards must disclose delisting proposals, appoint a merchant banker, and provide two years of trading and off-market details for the top twenty-five shareholders for merchant banker due diligence. The merchant banker must certify compliance with securities laws and whether transactions were undertaken to facilitate the delisting. The board must certify compliance, adherence to conduct conditions, and that delisting serves shareholders' interest. Timelines and book-building settlement rules are shortened and revised; a power to relax enforcement and a fast-track delisting route for small inactive companies are introduced. Notifications SEBI Tue, 24 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/notifications?id=142319