The company, which has received Board approval for voluntary delisting of equity shares, will now seek approval of member shareholders.
"... The Board of Directors of the company, at its meeting held on January 2, 2015, approved the proposal received from Smart Ventures, the promoter of the company, to voluntarily delist the equity shares of the company from the NSE and BSE," it said in a filing to the exchanges.
Last week , Spice Mobility had proposed the delisting and said the matter would be considered at the Board meeting.
Smart Ventures holds 74.36 per cent stake in the company, the company's latest shareholding pattern shows.
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