CONSTITUTION OF PANEL (Reg. 22(2))

The recognized stock exchange(s) shall constitute the panel to take the decision regarding the compulsory delisting of the Company

PUBLIC NOTICE BEFORE MAKING THE DELISTING ORDER (Reg.22(3))

The recognized stock exchange(s) shall give the public notice for the compulsory delisting of the company in one English, one Hindi national daily and one Regional language news paper where the concerned stock exchange is located and also on its trading system & website

REPRESENTATIONS (Reg.22(3))

Any person aggrieved by such public notice may give representations within maximum 15 working days from the date of the public notice

DELISTING ORDER (Reg.22(4))

The recognized stock exchange(s) may pass the delisting order after giving the reasonable opportunity of being heard to the concerned person

PUBLIC NOTICE AFTER DELISTING ORDER (Reg.22(6))

The recognized stock exchange(s) shall publish the delisting order in one English, one Hindi national daily newspaper and one Regional language newspaper where the concerned stock exchange is located.

INTIMATION TO OTHER EXCHANGE(S) (Reg.22(6))

The recognized stock exchange(s) shall intimate other exchange(s) where the company is listed about the delisting order

APPOINTMENT OF INDEPENDENT VALUER (Reg.23(1))

The recognized stock exchange(s) shall appoint the independent valuer(s) from the panel of expert valuers

DETERMINATION OF FAIR VALUE (Reg.23(1))

The independent valuer(s) shall determine the fair value of the delisted equity shares at which the shares may be tendered by the public shareholders

ACQUISITION OF SHARES (Reg.23(3))

The Promoters shall acquire the shares at the fair value from the public shareholders

CONSEQUENCE OF COMPULSORY DELISTING (Reg. 24)

The company/promoters/person acting in concert/directors cannot access securities market or seek listing for a period of 10 years