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Bourses begin delisting shares of cos suspended for long

Press Trust of India  |  New Delhi 

Leading stock exchanges and have initiated the delisting process for companies that have been under suspension for a very long time, was informed today.

As on date, trading in equity of 1,021 companies on the and 132 firms on the have been suspended for more than seven years, Minister of State for Finance, Arjun Ram Meghwal said in a written reply to the Rajya Sabha.



"The exchanges have initiated the process of delisting those companies which have been under suspension for a very long time and have not complied with listing requirements," he added.

Under the norms, stock exchanges can compulsorily delist the equity of listed company in case trading in the firm remains suspended for more than six months.

In August, (formerly known as Bombay Stock Exchange) delisted 194 companies, while (NSE) announced delisting of 48 firms during August-November.

According to rules, promoters of the compulsorily delisted company would have to acquire from the public shareholders by paying them the fair value determined by the independent valuer, subject to their option of retaining their shares.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Bourses begin delisting shares of cos suspended for long

Leading stock exchanges BSE and NSE have initiated the delisting process for companies that have been under suspension for a very long time, Parliament was informed today. As on date, trading in equity shares of 1,021 companies on the BSE and 132 firms on the NSE have been suspended for more than seven years, Minister of State for Finance, Arjun Ram Meghwal said in a written reply to the Rajya Sabha. "The exchanges have initiated the process of delisting those companies which have been under suspension for a very long time and have not complied with listing requirements," he added. Under the norms, stock exchanges can compulsorily delist the equity shares of listed company in case trading in the firm remains suspended for more than six months. In August, BSE (formerly known as Bombay Stock Exchange) delisted 194 companies, while National Stock Exchange (NSE) announced delisting of 48 firms during August-November. According to Sebi rules, promoters of the compulsorily ... Leading stock exchanges and have initiated the delisting process for companies that have been under suspension for a very long time, was informed today.

As on date, trading in equity of 1,021 companies on the and 132 firms on the have been suspended for more than seven years, Minister of State for Finance, Arjun Ram Meghwal said in a written reply to the Rajya Sabha.

"The exchanges have initiated the process of delisting those companies which have been under suspension for a very long time and have not complied with listing requirements," he added.

Under the norms, stock exchanges can compulsorily delist the equity of listed company in case trading in the firm remains suspended for more than six months.

In August, (formerly known as Bombay Stock Exchange) delisted 194 companies, while (NSE) announced delisting of 48 firms during August-November.

According to rules, promoters of the compulsorily delisted company would have to acquire from the public shareholders by paying them the fair value determined by the independent valuer, subject to their option of retaining their shares.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Business Standard
177 22

Bourses begin delisting shares of cos suspended for long

Leading stock exchanges and have initiated the delisting process for companies that have been under suspension for a very long time, was informed today.

As on date, trading in equity of 1,021 companies on the and 132 firms on the have been suspended for more than seven years, Minister of State for Finance, Arjun Ram Meghwal said in a written reply to the Rajya Sabha.

"The exchanges have initiated the process of delisting those companies which have been under suspension for a very long time and have not complied with listing requirements," he added.

Under the norms, stock exchanges can compulsorily delist the equity of listed company in case trading in the firm remains suspended for more than six months.

In August, (formerly known as Bombay Stock Exchange) delisted 194 companies, while (NSE) announced delisting of 48 firms during August-November.

According to rules, promoters of the compulsorily delisted company would have to acquire from the public shareholders by paying them the fair value determined by the independent valuer, subject to their option of retaining their shares.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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