Securities And Exchange Board Of India - Subsection
Section 11(1) in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
(1)Before making the public announcement under regulation 10, the [acquirer or] [Inserted by Notification No. LAD-NRO/GN/2014-15/27/541, dated 24.3.2015 (w.e.f. 10.6.2009).] promoter shall open an escrow account and deposit therein the total estimated amount of consideration calculated on the basis of floor price and number of equity shares outstanding with public shareholders.
