on Wednesday said it has started collecting information about the 48 firms, that are listed on its platform, out of the 331 suspected shell companies
referred by markets
regulator Securities and Exchange Board of India (Sebi).
The leading bourse would report to the Sebi
about the 48 companies after collecting the information. Out of the 48 firms, 10 entities had already been suspended before the Sebi's directive.
"Of these 331 companies, only 48 are listed on NSE.
Of these 48 companies, 10 companies were suspended prior to this directive of Sebi," the NSE
said in a statement.
The regulator has asked the exchange to "seek documents from these 48 companies and verify the credentials and fundamentals of these companies".
The exchange has already commenced the process of collecting information, as advised by Sebi
and would be reporting to the regulator after completing the exercise, the statement said.
Under stage VI of the GSM, trading is permitted only once a month with no upward movement in the price of the security with Additional Surveillance Deposit (ASD) of 200 per cent of trade value to be deposited by the buyer.
The list of 331 suspected shell companies
was referred to the watchdog by the government and many have come under the scanner of the Serious Fraud Investigation Office (SFIO) and the Income Tax Department.