TaxTMI 
TaxTMI 
TaxTMI 
Special provisions in case of small companies
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....quity shares of a company may be delisted from all the recognised stock exchanges where they are listed, without following the procedure in Chapter IV, if,- a) the company has a paid up capital not exceeding ten crore rupees and net worth not exceeding twenty five crore rupees as on the last date of preceding financial year; b) 2[the number of equity shares of the company traded on each such rec....
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....ments of regulation 8, the following conditions are fulfilled:- (a) the promoter appoints a merchant banker and decides an exit price in consultation with him; (b) 5[the exit price offered to the public shareholders shall not be less than the floor price determined in terms of sub-regulation (2) of regulation 15 of these regulations read with clause (e) of sub-regulation (2) of regulation 8 of t....
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....t and finalisation of the proposal for delisting of equity shares within seventy five working days of the first communication made under clause (c); (f) the promoter makes payment of consideration in cash within fifteen working days from the date of expiry of seventy five working days stipulated in clause (e). (4) The communication made to the public shareholders under clause (c) of sub-regulati....
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....diately preceding the date of board meeting referred to in sub-regulation (1B) of regulation 8; and" 3. Omitted by the SEBI (Delisting of Equity shares) (Amendment) Regulations, 2015, w.e.f. 24-03-2015. 4 Omitted the words "or sub-regulation (2)" by the SEBI (Delisting of Equity shares) (Amendment) Regulations, 2015, w.e.f. 24-03-2015. 5 Substituted by the SEBI (Delisting of Equity Shares) (Ame....