Section 28 in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
28. Delisting in case of winding up, derecognition, etc.
(1)In case of winding up proceedings of a company whose equity shares are listed on a recognised stock exchange, the rights, if any, of the shareholders of such company shall be in accordance with the laws applicable to those proceedings.(2)Where the Board withdraws recognition granted to a stock exchange or refuses renewal of recognition to it, the Board may, in the interest of investors pass appropriate order in respect of the status of equity shares of the companies listed on that exchange.
