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BSE To Delist Two Companies From July 7

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The country's major stock exchange BSE said it will delist two companies from July 7 as trading in their shares remain suspended for more than six months. "Two companies that have remained suspended for more than 6 months would be delisted from the platform of the exchange, with effect from July 7, 2020 pursuant to order of the delisting committee of the exchange," BSE said in a circular. The companies to get listed are Sancia Global Infraprojects Limited and Delma Infrastructure Limited.

 

BSE To Delist Two Companies From July 7

The stock exchange for the last few years has been delisting companies in which trading remains discontinued for a long period of time.

Also for these delisted entities, their whole time directors, promoters as well as group companies there shall be a restriction to access the securities market for 10 years time. Also, promoters of these companies will need to buyback shares from public shareholders at a fair price as determined by the valuer appointed by the exchange. "Further, these companies would be moved to the dissemination board of the exchange for a period of 5 years as directed by Sebi," the BSE noted.

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Read more about: bse delisting
Story first published: Saturday, July 4, 2020, 6:35 [IST]
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