INSUBCONTINENT EXCLUSIVE:
Mumbai: Stock exchange BSE (Bombay Stock Exchange) will delist over 220 firms from its platform from Wednesday.Stocks of 210 companies that
have remained suspended for more than six months would be "delisted from the platforms of the exchange" with effect from July 4,
platform of the exchange as well.In addition, six companies that have remained suspended for "more than six months and whose status on the
MCA (Ministry Of Corporate Affairs) website is reflected as 'under liquidation or liquidated' would be delisted from the platform of the
exchange", with effect from July 4, 2018.The stock exchange major pointed out that as per regulator SEBI's delisting regulations, 2009, the
securities of these 222-odd companies would cease to be listed and traded on the BSE's platform."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," the BSE said in a separate notification."Further, in terms of regulation 24 of delisting regulations, 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."
