Delisting means permanent removal of securities of a listed company from all or any of the recognised stock exchanges where such shares are listed. As a consequence of delisting, the securities of that company would no longer be tradable at that stock exchange.
Applicability of Delisting Regulation:
1. Delisting of Equity Shares from all the stock exchanges or any STXs except securities listed without making a public issue, on the institutional trading platform of a recognised stock exchange and
2. Delisting made pursuant to Scheme sanctioned by:
a. BIFR under SICA Or
Delisting not permissible:
1. Pursuant to Buyback
2. Pursuant to Preferential Allotment.
3. Unless 3 years have elapsed since the listing of shares on any Regional Stock Exchange.
4. If any convertible securities are outstanding.
The Promoter shall not propose delisting of shares of Co. if any entity belonging to promoter or promoter group has sold shares during 6 months prior to date of Board meeting in which delisting proposal was approved.
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