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The Bombay Stock Exchange will delist as many as 17 companies from tomorrow as trading in their shares has remained suspended for over six months.
The exchange has been for the past few months delisting companies where the trading has remained suspended for a long period.
BSE said in a circular, “17 companies that have remained suspended for more than 6 months would be delisted from the platform of the exchange, with effect from August 21, 2018 pursuant to order of the delisting committee.’’
These companies are -- Associated Marmo & Granites, Baroda Electric Meters, Bihar Air Products, Cana Glass, Graphic Charts, IAG Company, Kiev Finance, Mahavir Impex, Neelkanth Motels & Hotels, Prithvi Information Solutions, Realtime Finlease and Sibar Media & Entertainment.
Besides, Sudar Industries, Valuemart Retail Solutions, Graham Firth Steel Products India, Spartek Ceramics India and Yule Financing & Leasing Company will also be delisted.
According to the exchange, shares of these companies would cease to be listed and therefore will not be available for trading.
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.
Further, the delisted companies, their whole-time directors, promoters and group firms will be debarred from accessing the securities market for a period of 10 years. In July, BSE had delisted 222 companies, while in May, it had delisted over 200 firms.
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