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BSE to delist 200 companies from Wednesday

Stocks of 117 companies that have remained suspended for more than 10 years would be 'delisted'

IANS  |  Mumbai 

A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai. Photo: Reuters
A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai. Photo: Reuters

Stock exchange major on Monday said that it will delist 200 from its platform from August 23.

According to the BSE, of 117 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 that have remained suspended for more than 10 years and are "under liquidation" would also be delisted from August 23, 2017.

In addition, 55 would be delisted from the platform of the exchange, with effect from August 23, 2017 "pursuant to order of the "Committee of the Exchange".

The stock exchange major pointed out that as per regulator Securities and Exchange Board of India's (Sebi's) regulations, 2009, the securities of these 200-odd would cease to be listed and traded on the BSE's platform.

"Promoters of these delisted 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 said in a separate notification.

"Further, in terms of regulation 24 of regulations, the delisted company, its whole-time directors, promoters and group shall be debarred from accessing the securities market for a period of 10 years from the date of compulsory "

First Published: Mon, August 21 2017. 20:23 IST
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