Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009

Chapter: I
PRELIMINARY
Regulation 1	:	Short title and commencement
Regulation 2	:	Definitions
Chapter: II
DELISTING OF EQUITY SHARES
Regulation 3	:	Applicability
Regulation 4	:	Delisting not permissible in certain circumstances and conditions for delisting
Chapter: III
VOLUNTARY DELISTING
Regulation 5	:	Delisting from all recognised stock exchanges
Regulation 6	:	Delisting from only some of the recognised stock exchanges
Regulation 7	:	Procedure for delisting where no exit opportunity is required
Regulation 8	:	Conditions and procedure for delisting where exit opportunity is required
Chapter: IV
EXIT OPPORTUNITY
Regulation 9	:	Applicability of Chapter IV
Regulation 10	:	Public announcement
Regulation 11	:	Escrow account
Regulation 12	:	Letter of offer
Regulation 13	:	Bidding period
Regulation 14	:	Right of shareholders to participate in the book building process
Regulation 15	:	Offer price
Regulation 16	:	Right of the promoter to either make a counter offer or reject the offer
Regulation 17	:	Minimum number of equity shares to be acquired
Regulation 18	:	Procedure after closure of offer
Regulation 19	:	Failure of offer
Regulation 20	:	Payment of consideration and return of equity shares
Regulation 21	:	Right of remaining shareholders to tender equity shares
Chapter: V
COMPULSORY DELISTING
Regulation 22	:	Compulsory delisting by a stock exchange
Regulation 23	:	Rights of public shareholders in case of a compulsory delisting
Regulation 24	:	Consequences of compulsory delisting
Chapter: VI
POWERS OF THE BOARD
Regulation 25	:	Power of the Board to issue clarifications
Regulation 25A	:	Power to relax strict enforcement of the regulations
Chapter: VII
SPECIAL PROVISIONS FOR SMALL COMPANIES AND DELISTING BY OPERATION OF LAW
Regulation 26	:	Directions by the Board
Regulation 27	:	Special provisions in case of small companies
Regulation 28	:	Delisting in case of winding up, derecognition, etc.
Chapter: VII-A
POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS
Regulation 28A	:	Exemption from enforcement of the regulations in special cases
Chapter: VIII
MISCELLANEOUS
Regulation 29	:	Recognised stock exchanges to monitor compliance
Regulation 30	:	Listing of delisted equity shares
Regulation 31	:	Repeal and Savings
SCHEDULE
SCHEDULE - I	:	CONTENTS OF THE PUBLIC ANNOUNCEMENT
SCHEDULE - II	:	THE BOOK BUILDING PROCESS
SCHEDULE - III	:	CRITERIA FOR COMPULSORY DELISTING