Section 25A in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
25A. [ Power to relax strict enforcement of the regulations. [Inserted by Notification No. LAD-NRO/GN/2014-15/27/541, dated 24.3.2015 (w.e.f. 10.6.2009).]
(1)The Board may for reasons recorded in writing, grant relaxation from strict enforcement of any of the requirements of these regulations, if the Board is satisfied that the relaxation is in the interests of investors in securities and the securities market.(2)For seeking exemption under sub-regulation (1), the promoter or the acquirer or the company shall file an application with the Board, supported by a duly sworn affidavit, giving details for seeking such exemption and the grounds on which the exemption has been sought.(3)The promoter or the acquirer or the company, as the case may be, shall along with the application referred to under [sub-regulation (2)] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/46, dated 14.11.2018 (w.e.f. 10.6.2009).] pay a nonrefundable fee of rupees fifty thousand, by way of a banker's cheque or demand draft payable in Mumbai in favour of the Board.(4)The Board may after affording reasonable opportunity of being heard to the applicant and after considering all the relevant facts and circumstances, pass a reasoned order either granting or rejecting the exemption or relaxation sought as expeditiously as possible.]
