Securities And Exchange Board Of India - Subsection
Section 3(2) in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
(2)Nothing in these regulations shall apply to any delisting made pursuant to a scheme sanctioned by the Board for Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985 or by the National Company Law Tribunal under section 424D of the Companies Act, 1956, if such scheme -(a)lays down any specific procedure to complete the delisting; or(b)provides an exit option to the existing public shareholders at a specified rate.
