200 Firms Will Be Delisted By BSE from 11th of May
Today, BSE announced that it will be delisting more than 200 companies from May 11. This step is being taken by BSE as trading in shares of these companies has remained suspended for over six months. The move comes at a time when authorities are clamping down on shell companies for being allegedly used as conduits for illicit fund flows.
The government has also deregistered more than 2 lakh firms that have not been carrying out business activities for long. In August, SEBI had directed exchanges to act against 331 suspected shell companies
It was being announced by BSE that soon it will be delisting 188 companies that have remained suspended for more than six months. 188 companies will be delisted from the exchange’s platform with effect from May 11. Some of the firms those will be compulsorily delisted from the platform are First Leasing Company of India, Brandhouse Retails, Dujodwala Paper Chemicals, Elder Health Care, Elder Pharmaceuticals, Glodyne Technoserve, Helios and Matheson Information Technology, Hiran Orgochem, MCS Ltd, Tulip Telecom, Tutis Technologies, Vajra Bearings, Varun Industries and VTX Industries.