Companies suspended for trading will be delisted from BSE, NSE
DSIJ Intelligence / 29 Nov 2016
There are exactly 1,021 companies on the Bombay Stock Exchange (BSE) and 132 companies on the National Stock Exchange (NSE), the trading of which has been suspended for seven years at least.
Those Companies which are under suspension from trading for long duration and thus have not been compliant with the listing requirement of the bourses will soon be delisted from the bourses as informed by the Ministry of Finance.
The delisting of shares will happen on both the exchanges i.e NSE & BSE .
There are exactly 1,021 companies on the Bombay Stock Exchange (BSE) and 132 companies on the National Stock Exchange (NSE), the trading of which has been suspended for seven years at least.
According to Securities and Exchange Board of India (SEBI) rules both the bourses have powers to compulsorily delist the equity shares of listed companies whose shares have been suspended from trading for more than six months.
In case of compulsory delisting the promoters of such companies shall acquire shares from the public shareholders after determining the fair value as determined by the independent valuer.
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