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.
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.