SEBI releases names of 331 suspected shell companies
DSIJ Intelligence / 08 Aug 2017
Market regulator Securities and Exchange Board of India (SEBI) has released names of the 331 suspected shell companies
Market regulator Securities and Exchange Board of India (SEBI) has released names of the 331 suspected shell companies. SEBI has also asked the BSE, the NSE and the Metropolitan Stock Exchange to keep the 331 stocks in Stage IV of the Graded Surveillance Mechanism (GSM) with immediate effect.
SEBI’s step is followed by the Corporate Affairs Ministry sharing a list of 331 listed companies that are suspected to be shell entities and may even face compulsory delisting. Securities coming into Stage IV are permitted to trade only once a month under the trade-to-trade category.
Some of the suspected shell companies include Prakash Industries, SQS BFSI, Rohit Ferro, REI Agro, Assam Company, Signet Industries, Parsvnath Developers, Pincon Spirits, Gallant Ispat, and J Kumar Infra.
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