No. SEBI/LAD-NRO/GN/2015-16/30.-In exercise of the powers conferred by section 31 read with section 21A of the Securities Contracts (Regulation) Act, 1956 (42 of 1956),
section 30, sub-section (1)
of section 11 and sub-section (2)
of section 11A of the
Securities and Exchange Board of India Act, 1992 (15 of 1992),the Board hereby makes the following Regulations to further amend the
Securities and Exchange Board
of
India (Delisting of Equity Shares)
Regulations,
2009, namely:-
1. These regulations may be called the Securities and Exchange Board of India (Delisting of
Equity Shares)
(Amendment)
Regulations,
2016.
2. They shall come
into force on the date
of their publication
in the Official
Gazette.
3. In the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations,
2009,-
(I) in regulation
27, in sub-regulation
(1), for clause
(b), the following shall be
substituted, namely-
"(b) the number of equity
shares of the company traded on each such recognised
stock exchange during the twelve calendar months immediately preceding the date of
board meeting referred to in sub-regulation (1B) of regulation 8 is less than ten per
cent
of the total number of shares
of such
company:
Provided that where the share capital of a particular class of shares of the company is not
identical throughout such period, the weighted average of the shares of such class shall
represent
the total
number of shares
of such
class of shares
of the company; and"
(II) in regulation 27,
in
sub-regulation (3),
for clause
(b), the following
shall
be
substituted, namely-
"(b)
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 the Securities and
Exchange Board
of India
(Substantial Acquisition of
Shares and Takeovers) Regulations, 2011;"
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Official Blog Fema India Experts Connect with our Facebook Page:- Click and Like our Page Subscribe our Email updates like other 15,000 Members, Free/Easy/Comfortableway
