Leading stock exchange BSE will delist 36 companies from next week as trading in their shares has remained suspended for over three years. These companies will be delisted from March 5, BSE said in two separate circulars today. The move comes at a time when authorities are clamping down on shell companies -- listed as well as unlisted -- for being allegedly used as conduits for illicit fund flows. 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 BSE. Further, these companies will be moved to the dissemination board of the exchange for 5 years as advised by markets regulator Securities and Exchange Board of India (Sebi).

Source: dna February 28, 2018 11:18 UTC