Market regulator SEBI has relaxed requirements to comply with delisting norms for companies facing insolvency proceedings provided the resolution plan lays down the procedure for delisting that particular entity from the exchanges.
The move is expected to provide succour to various listed companies that have been referred for resolution under the Insolvency and Bankruptcy Code (IBC).
More than 750 entities, including many listed companies, are facing insolvency proceedings under the Code. The notification was issued on June 1.