Compulsorily Delisting
of Shares
Delisted shares refer to the shares of a listed company that have been removed from the stock exchange permanently for buying and selling purposes. That means delisted shares will no longer be traded on the stock exchanges – National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Unlisted Companies
Compliance SEBI Regulations:
- SEBI Regulations are not applicable to Unlisted Companies.
- Valuation Certificate requirement: There is no requirement under SEBI Regulations due to the non-applicability of SEBI Regulations.
Listed Companies
Compliance SEBI Regulations:
- Governed by Regulation 33 of Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
- Valuation Certificate requirement; Valuation report is mandated under applicable provisions from an Independent Valuer.
Key Points to Consider
01
Which is the governing law for Unlisted
Not Applicable
02
Which is the governing law for listed
Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021
03
Who does the Valuation
Independent Valuer
04
When valuation is required
At the time of Compulsorily Delisting of shares
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