BSE to Imperatively delist 200 Company From August 23

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The Bombay stock exchange (BSE) will compulsorily delist 200 firms with impact from August 23, 2017. additionally it is going to limit promoters of these companies from accessing the securities market for ten years.

The BSE issued the list of these 200 companies in three completely different circulars on Monday. The exchange stated that as per SEBI Delisting rules, 2009, the next penalties of obligatory delisting would practice to those company:

The securities of these firms would stop to be listed and due to this fact no longer be available for buying and selling on the alternate.

Promoters of those delisted corporations will likely be required to buy the shares from the public shareholders as per the truthful price decided by using the independent valuer appointed by using the trade, as talked about within the Public notice to be issued quickly.
Further, when it comes to law 24 of Delisting rules, the delisted company, its whole-time administrators, promoters and group companies might be debarred from gaining access to the securities market for a length of 10 years from the date of obligatory delisting.

Till the time promoters of those companies provide an exit approach to the general public shareholders with regards to worth decided by way of the valuer, the following penalties of obligatory delisting would also practice:

Non-transferability of any of equity cash shares by means of the corporate, by way of sale, pledge, and so forth., of any of the equity shares.

Freezing of fairness shares and company advantages thereof held by using the promoters/ promoter group.

The promoters and complete-time administrators of the company shall not be eligible to develop into administrators of any listed company.

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