sec 21A of SCRA 1956

Question BankCategory: Otherssec 21A of SCRA 1956
AvatarAnonymous asked 5 years ago

as per sec 21  A of SCRA can any recog stock exchange delist securisties from ANY OTHER recog stockexchange or from only such stock exchange where the securities are listed

1 Answers
AvatarAshok Kumar answered 5 years ago

If I have to say in one one word then “NO” any recog stock exchange can not delist securities from any other stock exchanges. As per sec.21A any recog stock exchange can delist securities from itself only and after such delisting a public notice under regulation 22(6) of SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) REGULATIONS, 2009, is given to other stock exchanges about the detail of such compulsory delisting so that they also can take action against defaulting company. They can proceed for delisting but it is not mandatory.
Dear friend, To understand complete delisting procedure, you need to understand law and regulation relating to delisting:
1) SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) REGULATIONS, 2009
2) SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF SECURITIES) GUIDELINES – 2003
I hope, your query is resolved now.
Ashok Kumar

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