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Business News

Jul 03, 2018
1:36PM

BSE to delist 222 companies from tomorrow

Bombay Stock Exchange will delist as many as 222 companies from tomorrow as trading in their shares has remained suspended for over six months. 

The move comes at a time when authorities are clamping down on shell companies listed as well as unlisted for being allegedly used as conduits for illicit fund flows.
 
In August last year, Securities and Exchange Board of India, SEBI had directed exchanges to act against 331 suspected shell companies. 

The government has already deregistered more than 2 lakh firms that have not been carrying out business activities for long.
  
Under the compulsory delisting regulations, the delisted company, its whole-time directors, promoters and group firm would be debarred from accessing the securities market for ten years from the date of compulsory delisting.
 
Earlier in May, the exchange had delisted over 200 companies as trading in their shares remained suspended for over six months.

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