NSE proceeds to delist 39 firms from March 24
Published: Mar 08, 2017
By TIOLCORP News Service
MUMBAI, MAR 08, 2017: CONTINUING with process of dealing with long-suspended listed companies, NSE will delist 39 firms from its platform from March 24. This is in addition to over 30 companies that were delisted by NSE previously.
In a circular, the National Stock Exchange said it has "decided to delist (withdraw the admission to dealings in) equity shares of the following (39) companies with effect from March 24, 2017 as per Chapter V of Sebi (Delisting of Equity Shares) Regulations, 2009". Chapter V deals with compulsory delisting. Sebi has been pushing for delisting of over 4,200 listed companies whose shares are not being traded. Of the 39 companies, three firms - Sanghi Polyesters, Blue Bird (India) and BPL Engg - are being delisted as they have wound up their businesses.