Stock exchange major BSE
on Monday said that it will delist 200 firms
from its platform from August 23.
According to the BSE, stocks
of 117 companies
that have remained suspended for more than 10 years would be "delisted from the platforms of the exchange" with effect from August 23, 2017.
Besides, the scrip of 28 companies
that have remained suspended for more than 10 years and are "under liquidation" would also be delisted from August 23, 2017.
In addition, 55 companies
would be delisted from the platform of the exchange, with effect from August 23, 2017 "pursuant to order of the "Delisting
Committee of the Exchange".
The stock exchange major pointed out that as per regulator Securities and Exchange Board of India's (Sebi's) delisting
regulations, 2009, the securities of these 200-odd companies
would cease to be listed and traded on the BSE's platform.
"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," the BSE
said in a separate notification.
"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.