Trading Members of the Exchange are hereby informed that the undermentioned 30 companies that have remained suspended for more than 6 months would be delisted from the platform of the Exchange, with effect from February 24, 2023 pursuant to order of the Delisting Committee of the Exchange in terms of Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009/2021(“Regulations”).
Sr. No.
|
Scrip Code
|
Company Name
|
1
|
531336
|
Auroma Coke Ltd
|
2
|
517203
|
Bee Electronic Machines Ltd
|
3
|
531713
|
Bluechip Stockspin Ltd
|
4
|
523400
|
Detroit Industries Ltd
|
5
|
532003
|
Dina Iron & Steel Ltd*
|
6
|
538608
|
Dwitiya Trading Ltd
|
7
|
539169
|
Funny Software Ltd
|
8
|
530945
|
Gangotri Iron & Steel Company Ltd
|
9
|
530389
|
Geefcee Finance Ltd
|
10
|
531479
|
Global Land Masters Corporation Ltd
|
11
|
511276
|
Mefcom Agro Industries Ltd
|
12
|
500278
|
Mideast India Ltd
|
13
|
531791
|
NovaGold Petro Resources Ltd
|
14
|
526313
|
Nu Tech Corporate Services Ltd
|
15
|
500329
|
Pentamedia Graphics Ltd
|
16
|
539007
|
Pincon Lifestyle Ltd
|
17
|
534734
|
Ram Minerals and Chemicals Ltd
|
18
|
535503
|
Roselabs Ltd
|
19
|
511640
|
Sanghi Corporate Services Ltd
|
20
|
531800
|
Sheetal Bio Agro Tech Ltd
|
21
|
506874
|
Shreejal Info Hubs Ltd
|
22
|
531679
|
South East Agro Industries Ltd*
|
23
|
513062
|
Sriyansh Steel Ltd
|
24
|
517403
|
Sun Source India Ltd
|
25
|
538793
|
Tej Infoways Ltd
|
26
|
530635
|
Texplast Industries Ltd
|
27
|
531659
|
TSL Industries Ltd
|
28
|
515099
|
Vertical Industries Ltd
|
29
|
511014
|
Vishvakirti Investment Ltd
|
30
|
538128
|
Womens Next Loungeries Ltd
|
*Consequences of compulsory delisting under SEBI (Delisting of Equity Shares), Regulations, 2009 are:-
· The securities of these companies would cease to be listed and therefore not be available for trading on the platform of the Exchange.
· Promoters of these delisted companies would be required to purchase the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the Exchange, as mentioned in the Public Notice to be issued shortly.
· Further, in terms of Regulation 24 (1) of SEBI (Delisting of Equity Shares), Regulations, 2009, the delisted company, its whole-time directors, promoters, and group companies shall be debarred from accessing the securities market for a period of 10 years from the date of compulsory delisting.
· Also, as per provisions of Regulation 24(2) of the SEBI (Delisting of Equity Shares), Regulations, 2009, in case of companies whose fair value is positive –
a) such a company and the depositories shall not effect transfer, by way of sale, pledge, etc., of any of the equity shares held by the promoters/ promoter group and the corporate benefits like dividend, rights, bonus shares, split, etc. shall be frozen for all the equity shares held by the promoters/ promoter group, till the promoters of such company provide an exit option to the public shareholders in compliance with sub-regulation (3) of regulation 23, as certified by the concerned recognized stock exchange;
b) the promoters and whole-time directors of the compulsorily delisted company shall also not be eligible to become directors of any listed company till the exit option as stated in clause (a) above is provided.
2) Further, following consequences of compulsory delisting as per SEBI (Delisting of Equity Shares), Regulations, 2021 are applicable to the remaining companies in the aforementioned Table:-
· The securities of these companies would cease to be listed and therefore not be available for trading on the platform of the Exchange.
· Promoters of these delisted companies would be required to purchase the shares from the public shareholders within three months of the date of delisting as per the fair value determined by the independent valuer appointed by the Exchange, as mentioned in the Public Notice to be issued shortly.
· Further, in terms of Regulation 34 (1) of SEBI (Delisting of Equity Shares), Regulations, 2021, the delisted company, its whole-time directors, person(s) responsible for ensuring compliance with the securities laws, its promoters and the companies which are promoted by any of them shall not directly or indirectly access the securities market or seek listing of any equity shares or act as an intermediary in the securities market for a period of 10 years from the date of such delisting.
Further, as per provisions of Regulation 34(2) of the SEBI (Delisting of Equity Shares), Regulations, 2021, in case of companies whose fair value is positive –
(a) such a company and the depositories shall not effect transfer, by way of sale, pledge, etc., of any of the equity shares held by the promoters / promoter group and the corporate benefits like dividend, rights, bonus shares, split, etc. shall be frozen for all the equity shares held by the promoters/ promoter group, till the promoters of such company provide an exit option to the public shareholders in compliance with sub-regulation (4) of regulation 33 of these regulations, as certified by the relevant recognized stock exchange;
(b) the promoters, whole-time directors and person(s) responsible for ensuring compliance with the securities laws, of the compulsorily delisted company shall also not be eligible to become directors of any listed company till the exit option as mentioned in clause (a) is provided.
3) Further, these companies would be moved to the Dissemination Board of the Exchange for a period of 5 years as directed by SEBI.
In case the Trading Members require any clarification, they may send email on email id bse.delistscn@bseindia.com.
Arpita Joshi Anshu Shrivastava
Manager Associate Manager
Listing Compliance
February 22, 2023
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