Six more ‘shell’ companies to enter the trading zone
DSIJ Intelligence / 12 Aug 2017
Parsvnath Developers, Kavit Industries, Pincon Spirit, Signet Industries, SQS India BFSI, and Kkalpana Industries – six of the 331 shell companies listed by the Securities Exchange Board of India (SEBI) – can resume trading following a ‘relief’ order from the Securities Appellate Tribunal (SAT).
Parsvnath Developers, Kavit Industries, Pincon Spirit, Signet Industries, SQS India BFSI, and Kkalpana Industries – six of the 331 shell companies listed by the Securities Exchange Board of India (SEBI) – can resume trading following a ‘relief’ order from the Securities Appellate Tribunal (SAT). Earlier, SAT had withdrawn the curbs on J Kumar Infraprojects and Prakash Industries.
To reiterate, SEBI had directed stock exchanges to take action against 331 suspected shell companies and banned them from daily trading. Out of these, eight companies have returned to the trading ring and investors can consider their scrips from the following Monday.
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