Bse Delists 179 Companies
The Bombay Stock Exchange governing board yesterday decided to delist 179 out of the 192 companies which had not paid up their listing fees.
BSE president M G Damani said that 12 companies had already paid up and thus the governing board met to decide the fate of the remaining 180-odd companies.
The exchange executive director, R C Mathur, said that the board also took the view of some genuine cases and decided to extend the date of payment to February 28.
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Besides, it decided not to delist 2 companies in spite of their not meeting the listing obligations. The two companies were M S Shoes and Cidco. Mathur said the decision of not delisting M S Shoes was taken in view of the larger interest of the market. Also, the company is facing litigation charges. Regarding Cidco, Mathur said, "The company is planning to go for delisting of its debentures since these instruments were facing redemption in December."
The BSE governing board, however, felt that this was an unwelcome step by the housing major, and BSE would soon hold talks with Cidco on the issue.
The governing board also discussed the modalities involved in the trade guarantee fund (TGF) scheme.
However, the Securities and Exchange Board of India is yet to give its consent for the TGF scheme.