Bombay Stock Exchange delisted the shares of Legacy Ltd. Being the aggrieved company, Legacy Ltd. approaches you to seek a remedy. As a Company Secretary, advise Legacy Ltd., bearing in mind the provisions of the Securit

Regulation 21A of the Securities Contracts (Regulations) Act, 1956 provides the provisions regarding delisting of securities. Which are as under :- A recognised stock exchange may delist the securities, after recording the reasons therefore, from any recognised stock exchange on any of the ground or grounds as may be prescribed under this Act: Provided that the securities of a company shall not be delisted unless the company concerned has been given a reasonable opportunity of being heard. A listed company or an aggrieved investor may file an appeal before the Securities Appellate Tribunal against the decision of the recognised stock exchange delisting the securities within fifteen days from the date of the decision of the recognised stock exchange delisting the securities and the provisions of sections 22B to 22E of this Act, shall apply, as far as may be, to such appeals: Provided that the Securities Appellate Tribunal may, if it is satisfied that the company was prevented by sufficient cause from filing the appeal within the said period, allow it to be filed within a further period not exceeding one month.