Tag: insolvency code

NEW DELHI: With an aim to protect investors' interest, Sebi has notified a new framework prohibiting listed entities, with more than 200 non-QIB (qualified institutional buyer) holders of non-convertible debt securities, from delisting voluntarily.Under the new rule, the listed entity will have to obtain permission from all holders of non-convertible debt securities within 15 working days of receiving the notification of delisting.The present rule allows entities to delist by giving a prior intimation to the stock exchange about the meeting of the board of directors, where the proposal...