Regulation 6 - Procedure for delisting where no exit opportunity is required - Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.

Procedure for delisting where no exit opportunity is required 6 . (1) Any company desirous of delisting its equity shares under the provisions of regulation 5 of these regulations shall - (a) obtain the prior approval of its Board of Directors; (b) make an application to the relevant recognised stock exchange(s) for delisting its equity shares; (c) issue a public notice of the proposed delisting from the relevant stock exchange(s) in at least one English national newspaper with wide circulation, one Hindi national newspaper with wide circulation in their all India editions and one vernacular newspaper of the region where the relevant stock exchange(s) is located; (d) disclose the fact of delisting in its first annual report post delisting. (2) The public notice issued under clause (c) of sub-regulation (1) shall mention the name(s) of the recognised stock exchange(s) from which the equity shares of the company are intended to be delisted, the reasons for such delisting and the fact of continuation of listing of equity shares on the recognised stock exchange(s) having nationwide trading terminals. (3) An application for delisting made under clause (b) of sub-regulation (1) shall be disposed of by the recognised stock exchange(s) within a period not exceeding thirty working days from the date of receipt of such application that is complete in all respects.