Sebi tweaks delisting rules to make process transparent, efficient

To enhance transparency and efficiency of the delisting process, 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, the Securities and Exchange Board of India (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. Under the new rules, timelines for completion of various activities forming part of the delisting process have been introduced or revised to make it more efficient.