The Securities and Exchange Board of India on 11th June 2021 has published the SEBI (Delisting of Equity Shares) Regulations, 2021 which shall apply to delisting of equity shares of a company including equity shares having superior voting rights from all or any of the recognised stock exchanges where such shares are listed.
A company may delist its equity shares from one or more of the recognized stock exchanges on which it is listed without providing an exit opportunity to the public shareholders if after the proposed delisting, the equity shares remain listed on any recognized stock exchange that has nationwide trading terminals.
The company shall make an application to the relevant recognised stock exchange for in-principle approval of the proposed delisting of its equity shares in the Form specified by the recognised stock exchange from time to time, not later than fifteen working days from the date of passing of the special resolution or receipt of any other statutory or regulatory approval, whichever is later.
