Notice No.   20240123-19   Notice Date   23 Jan 2024
Category   Company related   Segment   Equity
Subject   Compulsory Delisting of Companies


Trading Members of the Exchange are hereby informed that the undermentioned 2 companies that have remained suspended for more than 6 months would be delisted from the platform of the Exchange, with effect from January 25, 2024 pursuant to order of the Delisting Committee of the Exchange in terms of Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021 (“Regulations”).



Sr. No.

Scrip Code

Company Name



Balasore Alloys ltd.



XO Infotech Ltd.




Consequences of compulsory delisting.


1.   As per SEBI (Delisting of Equity Shares), Regulations, 2021: -


·       The securities of the companies would cease to be listed and therefore not be available for trading on the platform of the Exchange.


 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, promoters, and 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 for a period of 10 (ten) years from the date of delisting.  


·       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.


·       Also, 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.




2.   Further, these companies would be moved to the Dissemination Board of the Exchange.

In case the Trading Members require any clarification, they may email on id




Purushottam Saraf                                                                         Netra Sahani

General Manager                                                                            Additional General Manager

Surveillance                                                                                     Listing Compliance


January 23, 2024