Media Release

BSE to file proceedings against defaulting listed companies under Insolvency and Bankruptcy Code, 2016

Mumbai: December 12, 2017: A few listed companies have failed to pay Annual Listing Fees (ALF) to BSE in spite of advance intimation, reminders and grant of sufficient time in the past few years. Such companies continue to be listed and traded on BSE. There are about 130 such Companies.

In the interest of Investors who may be trading in such Companies, it has become incumbent to initiate action against such listed Companies defaulting in payment of listing fees, under the Insolvency and Bankruptcy Code, 2016 (“Code”).

Accordingly, BSE has already filed proceedings against the Seven defaulting companies before the Hon’ble National Company Law Tribunal, Mumbai on account of their failure to pay annual listing fees over a period of time. Similar action is being envisaged against other Companies too. Below are the names of seven defaulting companies:

ü  Neo Corp International Ltd

ü  S. Kumars Nationwide Ltd.

ü  Asahi Infrastructure & Projects Ltd

ü  Mavi Industries Limited

ü  Tricom India Ltd

ü  Twinstar Industries Limited

ü  Sezal Glass Limited

Media Contact

Yatin Padia/ Rahul Vyas

022 2272 8516 / 2272 8472

Yatin.padia@bseindia.com / Rahul. vyas@bseindia.com