Bombay Stock Exchange going to delist 2 companies on July 7
India’s leading stock exchange Bombay Stock Exchange (BSE) stated that on July 7 it is going to delist two companies namely, Sancia Global Infraprojects Limited and Delma Infrastructure Limited because trading in shares of both the companies were suspended for past 6 months.
BSE said, “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, according to the order of the delisting committee of the exchange,”.
Because of suspension. promoters of both the companies need to purchase the shares from the public holding shares for both the companies as per the fair value. The fair value is determined by the independent valuer appointed by BSE.
After this, the delisted companies, their whole-time directors, promoters, and group firms will be debarred from accessing the securities market for 10 years.
The Bombay Stock Exchange added later
“Further, these companies would be moved to the dissemination board of the exchange for 5 years as directed by Sebi,”.