Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow
Mumbai based stock exchange BSE planning to delist as many as 222 companies from tomorrow.
The trading of these shares has remained suspended for next six months. The reason behind this move is clamping down on shell companies listed as well as unlisted for being allegedly used as conduits for illicit fund flows.
In August last year, Sebi had directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 2 lakh firms that have not been carrying out business activities for long.
In a circular, the BSE said, "210 companies that have remained suspended for more than six months would be delisted from the platform of the exchange, with effect from July 4, 2018, pursuant to an order of the delisting committee of the exchange".
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