TMI BlogDelisting of equity shares of a subsidiary company pursuant to a scheme of arrangementX X X X Extracts X X X X X X X X Extracts X X X X ..... - Part - C SPECIAL PROVISIONS FOR A SUBSIDIARY COMPANY GETTING DELISTED THROUGH A SCHEME OF ARRANGEMENT WHEREIN THE LISTED HOLDING COMPANY AND THE SUBSIDIARY COMPANY ARE IN THE SAME LINE OF BUSINESS Delisting of equity shares of a subsidiary company pursuant to a scheme of arrangement 37 . (1) Nothing contained in these regulations shall apply to the delisting of equity shares of a subsidiary co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and Disclosure Requirements) Regulations, 2015 and the Circulars issued thereunder; d) e-voting from shareholders of both listed companies wherein votes cast by public shareholders of the listed subsidiary in favour of the proposal are at least two times the number of votes cast against it and the votes cast by the public shareholders of the listed holding company in favour of the proposal are m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years from the date of delisting and such relisting shall be in terms of sub-regulation (3) and (4) of regulation 40 of these regulations; and, j) the valuation of shares of the listed subsidiary per share shall not be less than sixty days volume weighted average price. 1 [Explanation The reference date for computing the volume weighted average price would be the date on which the prior intimation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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