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Standard Operating Procedure for listed subsidiary company desirous of getting delisted through a Scheme of Arrangement wherein the listed parent holding company and the listed subsidiary are in the same line of business. - SEBI - SEBI/HO/CFD/DIL1/CIR/P/2021/0585

Extract

..... I (Delisting of Equity Shares) Regulations, 2021 wherein, in Chapter VI, Part C, and Regulation 37, special provisions for a listed subsidiary company getting delisted through a scheme of arrangement have been inter-alia inserted with respect to a listed holding company and the listed subsidiary company who are in the ‘same line of business’. 2. It is hereby clarified that for the purposes of defining ‘same line of business’, the following criteria need to be fulfilled by .....

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Standard Operating Procedure for listed subsidiary company desirous of getting delisted through a Scheme of Arrangement wherein the listed parent holding company and the listed subsidiary are in the same line of business. - SEBI

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..... year has to be earned by it from the activity indicated by its new name. v. The listed holding company and the listed subsidiary have to provide a self certification with respect to both the companies being in the same line of business. 3. All of the above mentioned criteria (i.e. Sr. No. 2 i to 2 v) shall be certified by the Statutory Auditor and SEBI Registered Merchant Banker. 4. In terms of Regulation 37(2)(e) and (f) of the SEBI (Delisting of Equity Shares) Regulations, 2021, the shares of .....

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Standard Operating Procedure for listed subsidiary company desirous of getting delisted through a Scheme of Arrangement wherein the listed parent holding company and the listed subsidiary are in the same line of business. - SEBI

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