valid as on 13/06/2024

(1) The listed entity shall make an application to the relevant stock exchange(s) for seeking in-principle approval for the proposed delisting of non-convertible debt securities or non-convertible redeemable preference shares in the form specified by such stock exchange, not later than fifteen working days from the date of passing of the board resolution to that effect or of receipt of any other statutory or regulatory approval, whichever is later.

(2) The application seeking in-principle approval for the delisting of the non-convertible debt securities or non-convertible redeemable preference shares shall be disposed of by the relevant stock exchange(s) within a period not exceeding fifteen working days from the date of receipt of such application that is complete in all respects.

(3) The stock exchange shall take into account all relevant matters including the following while granting the in-principle approval:

(a) necessary approvals of the board of directors in respect of the delisting proposal;
(b) due resolution of all investor grievances by the listed entity;
(c) due payment of all listing fees or fines or penalties to the stock exchange;
(d) compliance with all provisions of these regulations;
(e) pendency of any litigation or action against the listed entity pertaining to its activities in the securities market;
(f) non-payment of any penalty imposed by the Board or the existence of any restrictions or limitations imposed by the Board upon the listed entity.

Inserted vide SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2023 dated 23.08.2023. To view the notification, Click Here.

SEBI Notification dated 23.08.2023 regarding Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2023


BSE Circular dated 29.08.2023 regarding SEBI (LODR) (Third Amendment) Regulations, 2015


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