The Managing Director of AB Ltd., a listed company wishes to implement the procedure for voluntary delisting from a few stock exchanges subject to listing of at least one stock exchange having nation wide terminals. As a

As per Regulations 6 of SEBI (Delisting of Equity Shares) Regulations 2018, A company may delist its equity shares from one or more recognised stock exchanges where they are listed and continue their listing on one or more other recognised stock exchanges, subject to the provisions of these regulations and subject to the following - (a) If after the proposed delisting from anyone or more recognised stock exchanges, the equity shares would remain listed on any recognised stock exchange which has nationwide trading terminals, no exit opportunity needs to be given to the public shareholders. As per Regulations 7 of SEBI (Delisting of Equity Shares) Regulations 2018, the procedure for delisting in the present situation is as follows: Convene a Board Meeting [Regulation 7(1)(a)]: The proposed delisting shall be approved by a resolution of the board of directors of the company in its meeting. Public notice [Regulation 7(1)(b)] The company to give a public notice of the proposed deli- sting in at least one English national daily with wide circulation, one Hindi national daily with wide circulation and one regional language newspaper of the region where the concerned recognized stock exchanges are located. Details shall mention in Public notice [Regulation 7(2)] (a) The names of the recognized stock exchanges from where the equity shares of the company are intended to be delisted. (b) The reasons for such delisting. (c) The fact of continuation of listing of equity shares on recognized stock exchange having nation wide trading terminals. Application to the concerned recognized stock exchange. [Regulation 7 (1)(c)] The company shall make an application to the concerned recognized stock exchange for delisting its equity shares. Delisting order by the Exchange [Regulation 7(3)] The recognized stock exchange shall dispose of the Application of the delisting complete in all respects within a period not exceeding thirty working days from the date of receipt of such application. Disclosure in the Annual report [Regulation 7(1)(d)] In the first Annual report which will be prepared after the delisting, include the names of the recognised stock exchanges from where the company got voluntary delisted during that year and the reason of the delisting there from.