Section 21 in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
21. Right of remaining shareholders to tender equity shares.
(1)Where, pursuant to acceptance of equity shares tendered in terms of these regulations, the equity shares are delisted, any remaining public shareholder holding such equity shares may tender his shares to the promoter upto a period of [minimum] [Substituted 'atleast' by Notification No. SEBI/LAD-NRO/GN/2018/46, dated 14.11.2018 (w.e.f. 10.6.2009).] one year from the date of delisting and, in such a case, the promoter shall accept the shares tendered at the same final price at which the earlier acceptance of shares was made.(2)The payment of consideration for shares accepted under sub-regulation (1) shall be made out of the balance amount lying in the escrow account.(3)The amount in the escrow account or the bank guarantee shall not be released to the promoter unless all payments are made in respect of shares tendered under sub-regulation (1).
