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TMI BlogDelisting of equity shares of a listed investment holding company pursuant to a scheme of arrangementX X X X Extracts X X X X X X X X Extracts X X X X ..... listed investment holding company pursuant to a scheme of arrangement 38A (1) Nothing contained in these regulations shall apply to the delisting of equity shares of an investment holding company, pursuant to a scheme of arrangement by an order of a Court or Tribunal. (2) Delisting of equity shares made under sub-regulation (1) shall be undertaken, in the following manneri. i. the listed investmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies Act, 2013, as amended from time to time; and iv. the listed investment holding company shall apply to the stock exchanges for delisting. (3) The delisting of the equity shares of an investment holding company in terms of sub-regulation (1) shall be permitted, subject to the fulfilment of the following conditions :- i. the listed investment holding company shall have not less than seventy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Requirements) Regulations, 2015 and the Circulars issued thereunder; iii. there shall be e-voting by shareholders of such listed investment holding company wherein votes cast by public shareholders of the listed investment holding company in favour of the proposal are not less than two times the number of votes cast against it; iv. the material disclosures in relation to calculation of the entitle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... delisted, shall not be permitted to seek relisting for a period of three years from the date of delisting: Provided that such relisting shall be in terms of sub-regulation (3) and (4) of regulation 40 of these regulations. (4) The delisting of the equity shares of an investment holding company shall also be subject to the compliance with any requirement specified by any financial sector regulator ..... X X X X Extracts X X X X X X X X Extracts X X X X
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