Securities And Exchange Board Of India - Subsection
Section 20(1) in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
(1)The promoter shall immediately [upon] [Substituted 'on ascertaining' by Notification No. SEBI/LAD-NRO/GN/2018/46, dated 14.11.2018 (w.e.f. 10.6.2009).] success of the offer, open a special account with a banker to an issue registered with the Board and transfer thereto, the entire amount due and payable as consideration in respect of equity shares tendered in the offer, from the escrow account.
