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Notices
Notice No20181102-3Notice Date02 Nov 2018
CategoryCompany relatedSegmentEquity
SubjectCompulsory Delisting of Companies
Content

 

 

 

 

Trading Members of the Exchange are hereby informed that the undermentioned 9 companies that have remained suspended for more than 6 months would be delisted from the platform of the Exchange, with effect from November 5, 2018 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 (“Regulations”).

 

 

Sr. No.

Scrip Code

Company Name

1

532910

Anil Ltd

2

520115

Brakes Auto (India) Ltd

3

532821

Indus Fila Ltd

4

532421

IQ Infotech Ltd

5

500256

Lok Housing & Constructions Ltd

6

514456

Metropoli Overseas Ltd

7

513611

Pithampur Steels Ltd

8

519430

Prakash Solvent Extractions Ltd

9

532302

Sibar Software Services (India) Ltd

 

  

Consequences of compulsory delisting. 

 

1) As per SEBI Delisting 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 will 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 of Delisting Regulations, 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.

 

 

2) As per SEBI circular no. SEBI/HO/CFD/DCR/CIR/P/2016/81 dated September 7, 2016, till the   time promoters of the Company provide an exit option to the public shareholders in terms      of value determined by the Valuer, the following consequences of compulsory delisting             would also apply:

·         Non-transferability of any of equity shares by the Company, by way of sale, pledge, etc., of any of the equity shares. 

·         Freezing of equity shares and corporate benefits thereof held by the promoters/ promoter group.

·         The promoters and whole-time directors of the Company shall not be eligible to become directors of any listed company.

 

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 contact Mr. Kaustubh Kulkarni on 2272 8834 or Ms. Sonali Kurhade on 2272 8063.

 

 

 

Netra Sahani                                                                                 Arpita Joshi

Dy. General Manager                                                                   Manager

 

 

Listing Compliance

November 2, 2018