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Section 20

SEBI (Delisting of Equity Shares) Regulations, 2009 - last amended on July 29, 2019Central Regulations · 1992

(1) The promoter shall immediately 68[upon] success of the offer, open a special account with a banker to an issue registered with the Board and transfer thereto, the entire amount due and payable as consideration in respect of equity shares tendered in the offer, from the escrow account.

(2) All the shareholders whose equity shares are verified to be genuine shall be paid the final price stated in the public announcement within ten working days from the closure of the offer.

(3) The equity shares deposited or pledged by a shareholder pursuant to paragraphs 7 or 9 of Schedule II shall be returned or released to him, within ten working days from the closure of the offer, in cases where the bids pertaining thereto have not been accepted.

Right of remaining shareholders to tender equity shares

Where this provision sits

ActSEBI (Delisting of Equity Shares) Regulations, 2009 - last amended on July 29, 2019
Section20
JurisdictionCentral
StatusIn force as published by the source

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