Sixty four companies to be delisted from Bombay Stock Exchange Platform
These companies have remained Suspended for more than 13 years. This is an addition to 194 firms already being delisted by the stock exchange in august
The securities of these firms have been under suspension for more than 13 years on account of non-compliance of various clauses of listing regulations, the securities of these firms have been under suspension for more than 13 years on account of non-compilance of various clauses of listing regulations.
"64 companies that have remained suspended for more than 13 years would be delisted from the platform of the exchange with effect from december 13 pursuant to order of Delisting Committiee of the exchange in terms of of SEBI Regulations" BSE said in a circular
These scripts will be moved to the dissemination board of the bourse for 5 years as directed by markets regulator Sebi
The companies include Ambuja zinc, Asian Alloys, Elder Telecom, Hindustan Breweries & Bottling, Zenith Steel tubes and industries
BSE said promoters of these delisted firms will be required to purchase the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the exchange.
Currently 2,778 Firms are traded on bse SOURCE=http://timesofindia.indiatimes.com/business/india-business/BSE-to-delist-64-companies-from-tomorrow/articleshow/55940605.cms