BSE delists 222 companies from today, 4 July 2018; check full list here

BSE 222 companies delisting: India’s biggest stock exchange in terms of total listed companies BSE (Bombay Stock Exchange) has delisted as many as 222 companies from its platform with effect from today, 4 July 2018. Earlier on 2 July 2018, the leading stock exchange BSE informed about the delisting of 222 companies in 2 separate notices. Out of the 222 companies, 6 firms have been compulsorily delisted from NSE include Asian Electronic, Birla Power Solutions, Classic Diamonds (India), Innoventive Industries, Paramount Printpackaging and SVOGL Oil Gas And Energy.

“Trading members of the exchange are hereby informed that the undermentioned 6 companies that have remained suspended for more than 6 months and whose status on the MCA website is reflected as “under liquidation / liquidated” would be delisted from the platform of the Exchange, with effect from July 4, 2018 pursuant to order of the delisting committee of the exchange in terms of Securities and Exchange Board of India,” BSE said in one of the notices.

Following the delisting from the BSE, the shares of these companies would cease to be listed and therefore won’t available for trading on the platform of the exchange. “The promoters of these delisted companies 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, as mentioned in the public notice to be issued shortly, BSE said in a notice.

“The delisted company, its whole-time directors, promoters and group companies shall be debarred from accessing the securities market for a period of 10 years from the date of compulsory delisting,” BSE said further.

Till the time promoters of these companies provide an exit option to the public shareholders in terms of the value determined by the valuer, there shall be no transfer of equity shares by the company, by way of sale, pledge, etc, BSE statement said. Following the delisting, the equity shares and corporate benefits thereof held by the promoters/promoter group will remain freeze.

“The promoters and whole-time directors of the Company shall not be eligible to become directors of any listed company,” BSE notice added. Also, these companies would be moving to the dissemination board of the exchange for a period of 5 years as directed by SEBI.

Full list of 222 companies delisted from BSE