Securities And Exchange Board Of India - Subsection
Section 14(3) in The Securities and Exchange Board Of India (Delisting of Equity Shares) Regulations, 2009
(3)Any holder of depository receipts issued on the basis of underlying shares held by a custodian and any such custodian shall not be entitled to participate in the offer.[Provided that any holder of depository receipts shall be allowed to participate in the book building process under sub-regulation (1) after exchanging such depository receipts with the shares of the class that are proposed to be delisted.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/46, dated 14.11.2018 (w.e.f. 10.6.2009).]
