Fox Star Ltd., a listed entity on Delhi Stock exchange, proposed to delist themselves from stock exchange. A board meeting is scheduled to be held on 28th March, 2020 for approval of the delisting. You as a company secre

Any company desirous of delisting its equity shares must obtain the prior approval of the board of directors of the company in its meeting. As a Company Secretary of Fox Star Ltd., before granting approval for delisting, the board of directors should deal with the following matters with reference to SEBI (Delisting of Equity Shares) Regulations, 2009: Disclosure to Stock Exchanges: Make a disclosure to the recognized stock exchanges on which the equity shares of the company are listed that the promoters/acquirers have proposed to delist the company. Appointment of Merchant Banker: Appoint a merchant banker to carry out due diligence and make a disclosure to this effect to the recognized stock exchanges on which the equity shares of the company are listed. Obtain Trading Details: Obtain details of trading in shares of the company for a period of two years prior to the date of the board meeting by the top twenty-five shareholders as on the date of the board meeting convened to consider the proposal for delisting, from the stock exchanges. Also obtain details of off-market transactions of such shareholders for a period of two years and furnish this information to the merchant banker for carrying out due-diligence. Furnish Further Details: Obtain further details and furnish the information to the merchant banker as required for the due diligence process. These steps are crucial for the board to make an informed decision and ensure compliance with regulatory requirements before approving the delisting proposal.