(1) Where the non-convertible debt securities or non-convertible redeemable preference shares are listed on more than one stock exchanges, the listed entity may choose to delist such securities or shares from all stock exchanges except one such stock exchange having nationwide trading terminals.
(2) If the listed entity proposes to delist its non-convertible debt securities or non-convertible redeemable preference shares as per sub-regulation (1), the provisions of regulations 64B to 64G of these regulations shall not be applicable and the listed entity shall:
(a) obtain the prior approval of its board of directors for such delisting;
(b) make an application to the stock exchange for delisting its non-convertible debt securities or nonconvertible redeemable preference shares;
(c) disclose the fact of delisting from the stock exchanges on its website;
(d) obtain No-Objection Letter from the Debenture Trustee in case of proposed delisting of nonconvertible debt securities;
(e) disclose the fact of delisting, the reasons for such delisting and the fact of continuation of listing of non-convertible debt securities or non-convertible redeemable preference shares, as the case may be, on the stock exchange having nationwide trading terminals, on its website.
(3) The application for delisting filed as per sub-regulation (1) shall be disposed of by the stock exchange within a period not exceeding thirty working days from the date of receipt of such application that is complete in all respects.