Last week, the SAT stayed trading restrictions imposed on Inter Globe Finance which figured in a list of 331 ‘suspected shell companies’ referred by the government to Sebi. New Delhi: Leading stock exchange BSE has said trading in Inter Globe Finance shares will resume from Monday after the Securities Appellate Tribunal (SAT) stayed curbs imposed on the company. So far, the tribunal has stayed trading restrictions imposed on a total of 10 companies, including JK Infraprojects and Parsvnath Developers. The appellants had submitted their respective financials, along with other filings, before SAT to establish that they are not shell companies and are in compliance with all regulations. Sebi, on 7 August, had asked stock exchanges to restrict trading in shares of 331 “suspected shell companies”, some of which have investments by several well-known domestic and foreign investors.

Source: Mint August 20, 2017 07:30 UTC