Sebi on 7 August had asked stock exchanges to restrict trading in shares of 331 suspected shell companies, including Parsvnath Developers, Kavit Industries. Photo: MintMumbai: The Securities Appellate Tribunal (SAT) on Friday asked the stock exchanges to lift trading restrictions imposed on shares of Parsvnath Developers and Kavit Industries, which are among the 331 suspected shell companies identified by the government. The companies submitted various financials along with their filings before SAT to establish that they are not shell companies and are in compliance with all regulations. Following a hearing on Friday, the SAT asked the stock exchanges to lift the trading restrictions imposed on the two companies. Out of the 331 companies on the list, more than 160 are actively traded shares on the exchanges.

Source: Mint August 11, 2017 07:24 UTC