RRR Ltd. is a listed company. It has not satisfied the requirements of listing agreement with the Recognized Stock Exchange. The Stock Exchange decided for compulsory delisting of the securities from the trading platform
CS Executive · Securities Laws and Capital Markets · PYQS · December 2023
RRR Ltd. is a listed company. It has not satisfied the requirements of listing agreement with the Recognized Stock Exchange. The Stock Exchange decided for compulsory delisting of the securities from the trading platform. In the light of SEBI (Delisting of Equity Shares) Regulations, 2021, answer the following: (c) What is the timeline stipulated by the Stock Exchange to make representation by the company ?
Answer & Explanation:
Before passing a compulsory delisting order, the recognized stock exchange must give public notice in: At least one English national newspaper with wide circulation. One Hindi national newspaper with wide circulation in their all India editions. One vernacular newspaper of the region where the relevant recognized stock exchange is located. This notice must specify a time period of not less than fifteen working days from the date of such notice, within which representations, if any, may be made to the recognized stock exchange by any person aggrieved by the proposed delisting. The notice must also be displayed on its trading systems and website. The stock exchange must consider any representation made by the company and others before passing its order.
Topics: SEBI (Delisting of Equity Shares) Regulations, 2021
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