SEBI tweaks delisting rules to make process transparent, efficient
The Hindu
This comes after the board of SEBI approved several amendments to delisting norms in March to make the process more transparent and efficient.
To enhance transparency and efficiency of the delisting process, the Securities and Exchange Board of India (SEBI) has said independent directors will have to give reasoned recommendation on such proposal, while the promoters need to disclose their intention to delist the firm through an initial public announcement. To give effect to this, SEBI has amended delisting rules, according to a notification dated June 10. This comes after the board of SEBI approved several amendments to delisting norms in March to make the process more transparent and efficient.More Related News