You are here: Home » Markets » News
Business Standard

BSE imposes curbs on 2 more cos after Sebi crackdown on shell firms

After Sebi's directive on August 7, BSE had imposed curbs on 162 companies

Press Trust of India  |  New Delhi 

Statsguru: Rational or irrational exuberance?

Leading stock exchange on Monday imposed trading restrictions on two more firms -- Sancia Global Infraprojects and -- on regulator Sebi's directives regarding a clampdown on suspected

As a result, the of the two firms will be moved from tomorrow to Stage VI of Graded Surveillance Measures -- where trading is permitted only once a month (first Monday) with no upward price movement and Additional Surveillance Deposit of 200 per cent of trade value by the buyers.

Following the latest move, has imposed similar trading curbs on a total of 169 listed firms from a list of 331 'suspected shell companies' against which the regulator had sought action last month. However, trading in nearly half of those companies was already suspended for various penal or surveillance reasons.

Soon after Sebi's directive on August 7, had imposed curbs on 162 companies, followed by similar decision for five others two days later on August 9.

However, some of the affected companies appealed before the Securities Appellate Tribunal and the trade restrictions were removed. However, the tribunal has asked the regulator to continue its probe against all of them.

had taken the decision following the receipt of this list of 331 firms from the corporate affairs ministry and they are alleged to have indulged in tax-related and other violations.

Many of these companies have denied being 'shell companies', saying they have active business interests.

First Published: Tue, September 05 2017. 09:12 IST