(1) No application for listing shall be made in respect of any equity shares,
(a) which have been delisted under Chapter III or under Chapter VII (except regulation 27), for a period of five years from the delisting;
(b) which have been delisted under Chapter V, for a period of ten years from the delisting.
(2) Notwithstanding anything contained in sub-regulation (1), an application for listing of delisted equity shares may be made where a recommendation in this regard has been made by the Board for Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985.
(3) While considering an application for listing of any equity shares which had been delisted the recognised stock exchange shall have due regard to facts and circumstances under which delisting was made.
(4) An application for listing made in respect of delisted equity shares shall be deemed to be an application for fresh listing of such equity 26 shares and shall be subject to provisions of law relating to listing of equity shares of unlisted companies.
89[Repeal and Savings]