``We understand that these seven companies have defaulted in submitting prescribed reports to the Registrar of Companies also. The stock exchange could only delist them from the exchange. We have also requested the RoC to consider the prosecution of the seven companies for violating the Companies Act,'' Magadh Stock Exchange deputy administratortold The Financial Express. Secretary of the exchange, RC Hasija has already informed the managing directors of the defaulting companies that the exchange has neither received their half-yearly results nor their annual reports. In a letter dated January 21, 1999, Hasija has asked the MDs to ``fully account for the amount raised and give clarification by the 15th of February this year,'' failing which action will be initiated against them. The seven defaulting companies have mopped up Rs 33.45 crore from their public issues, a bourse official said. In a separate letter dated January 16, 1999, the bourse has informed Sebi about the defaulting companies.