<div>Refiner Essar Oil Ltd on Monday said its board had approved delisting of shares from the BSE Ltd and National Stock Exchange of India Ltd.<br /><br />Essar Oil, a unit of the diversified Essar Group, said its board met on Sunday to decide on the proposal.<br /><br />The move is part of Essar Oil's plans to take the energy business of Essar Energy Plc private to provide increased financial flexibility to support its business needs.<br /><br />On Friday, the company said the delisting would take place after its founders buy the 27.5 per cent of Essar Oil that is owned by public shareholders.<br /><br />(Reuters)</div>
