Leading bourse NSE has decided to delist as many as 19 firms including Deccan Chronicle Holdings Ltd and Koutons Retail India Ltd from its platform from next month.
New Delhi: Leading bourse NSE has decided to delist as many as 19 firms including Deccan Chronicle Holdings Ltd and Koutons Retail India Ltd from its platform from next month.
This is in addition to 70 companies that were delisted by NSE in August and March.
The National Stock Exchange said it has now “decided to delist (withdraw the admission to dealings in) equity shares of the following companies with effect from May 12, 2017 as per Chapter V of Sebi (Delisting of Equity Shares) Regulations, 2009”.
Chapter V of Sebi deals with compulsory delisting. The market regulator has been pushing for delisting of over 4,200 listed firms whose shares are not being traded.
The companies to be delisted include Coral Hub, Evinix Accessories (currently known as Evinix Industries), Nuchem Ltd, Spanco Ltd, Parekh Platinum, Pasupati Fabrics, Pearl Engineering Polymers, Polar Industries, Vikash Metal & Power and Taksheel Solutions.
Besides, NSE said, Koutons Retail, Ankur Drugs and Pharma, Ashco Niulab Industries, Crew BOS Products, Dhanus Technologies, Dhanus Technologies, Teledata Technology Solutions, Teledata Marine Solutions and IOL Netcom will be delisted “pursuant to liquidation”.
Under compulsory delisting, these firms will cease to be listed on the exchange and would move to the dissemination board of the exchange.
The exchange had delisted 14 in August and another 14 in November, besides 3 in February and 39 last month, as these entities were in the process of winding up their respective businesses.
In April 2016, NSE public notice had named 80 companies for compulsory delisting as trading in shares of these entities had been suspended over a long period of time.