BSE plans to delist 1,000 companies

Tightening the noose on individuals and enterprises misusing its platform, stock exchange BSE today said it plans to delist over 1,000 companies.
"We do not want BSE to be used for any tax evasion or for any manipulating issues. So we are slowly taking steps. We are actually going to delist 1,000 companies going forward," BSE Managing Director and CEO, Ashishkumar Chauhan said.
He was speaking at the silver jubilee celebrations of the Tamil Nadu Investors Association here.
Chauhan said several investor associations had warned him that his plan to delist these companies was an "anti-investor activity".
"Many industry associations have written to me saying that this (plan to delist 1,000 companies) is an anti-investor activity. But for me, if an investor goes into stocks and looses his money, whose responsibility will it be?" he asked.

Strongly pitching for individuals investing in stock exchanges, Chauhan said India's GDP had shot up multifold over the last two decades. The middle class has grown 10 times during this period, but the number of investors in 1993 and number of investors in 2015 are almost similar.

"Why has this happened? We have not been able to gain the confidence of investing people".
On his plans for BSE, he said the stock exchange was in discussions with SEBI, Finance Ministry and Reserve Bank to allow trading in government bonds.
"If we get government bonds to be distributed to investors across the country directly, people will come (to invest). We have taken it (the matter) up with RBI, SEBI and Ministry of Finance to hold shares like government bonds," he said.

Today, two per cent of India is investing and if this happens , 20 per cent of the country will be investing in next 20 years.