The Securities and Exchange Board of India (SEBI) reportedly plans to scrap a requirement that 50 per cent of public shareholders would have to participate for a delisting to succeed. At its board meeting scheduled on November 19, SEBI is likely to say that companies would have to acquire 90 per cent of its own equity capital in order to delist successfully. But this would be subject to a condition that 25 per cent of the total number of public shareholders would have to tender their shares.
The information in this private circulation is not legal advice and should not be treated as such. The information is taken from public domain and is purely for private and non- commercial purposes. We do not represent that the information is correct, accurate, complete or non- misleading.
This disclaimer will be governed by and construed in accordance with laws of India, and any disputes relating to this disclaimer will be subject to the exclusive jurisdiction of the courts of the Republic of India.