Delisting of equity shares of small companies

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the recognised stock exchanges where they are listed, without following the procedure in Chapter IV of these regulations, 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) the number of equity shares of the company traded on each such recognised stock ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....fulfilment of the requirements of regulations 10 and 11 of these regulations, the following conditions are fulfilled:- (a) acquirer(s) appoints a Manager to the offer and decides an exit price after consultation; (b) the exit price offered to the public shareholders shall not be less than the floor price determined in terms of clause (e) of sub-regulation (2) of regulation 8 of t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ve working days of the first communication made under clause (c); (f) the acquirer makes payment of consideration in cash within fifteen working days from the date of expiry of seventy five working days mentioned in clause (e). (3) The communication made to the public shareholders under clause (c) of sub-regulation (2) shall contain justification for the offer price with particular ref....