Voluntary delisting from BSE rejected by shareholders

U.P. Hotels sought shareholder approval (special resolution) via postal ballot to support its application to SEBI for extension of time for voluntary delisting from BSE. Of 54 lakh total shares, about 28.99 lakh votes were polled. Only 63.85 percent voted in favour (7.72 lakh shares), falling short of the 75 percent threshold needed for a special resolution. The resolution was NOT approved. Promoter voting rights were capped at 39.41 percent due to a prior SEBI order on minimum public shareholding non-compliance.