The Securities and Exchange Board of India (SEBI) on August 24, 2023, issued the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The following amendment has been stated:
• After Chapter VI, the following Chapter shall be inserted namely, -
“CHAPTER VIA
FRAMEWORK FOR VOLUNTARY DELISTING OF NON-CONVERTIBLE DEBT SECURITIES OR NON-CONVERTBLE REDEEMABLE PREFERENCE SHARES AND OBLIGATIONS OF THE LISTED ENTITY ON SUCH DELISTING
• 64A. Applicability
• 64B. In-principle approval of the stock exchanges
• 64C. Obligations of the listed entity
• 64D. Notice of delisting
• 64F. Failure of delisting proposal
• 64G. Final application to the stock exchange
• 64H. Delisting from some of the stock exchanges.
• 64I. Monitoring of compliance by the stock exchanges
They shall come into force on August 23, 2023.
[Notification No. SEBI/LAD-NRO/GN/2023/149]
