GET Stock QuotesNews18 APP
News18 English
»
1-min read

Kingfisher Airlines Among 18 Firms to be Delisted from NSE

The decision 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.

PTI

Updated:May 21, 2018, 6:37 PM IST
facebookTwittergoogleskypewhatsapp
Kingfisher Airlines Among 18 Firms to be Delisted from NSE
A Kingfisher Airlines aircraft is seen parked at the airport in New Delhi on April 19, 2013.
Loading...
New Delhi: Leading stock exchange NSE has decided to delist Vijay Mallya-promoted Kingfisher Airlines and Plethico Pharmaceuticals and 16 other companies from May 30.

This comes after BSE delisted over 200 companies from May 11 as trading in their shares remained suspended for over six months.

The decision 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.

In August, markets regulator 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 latest circular, National Stock Exchange (NSE) said it has "decided to delist (withdraw the admission to dealings in) the equity shares of companies with effect from May 30, 2018 which have been compulsorily delisted by BSE Ltd.".

Apart from Kingfisher Airlines and Plethico, the other firms that will be delisted are Agro Dutch Industries, Broadcast Initiatives, Crest Animation Studios, KDL Biotech, Kemrock Industries and Exports, Lumax Automotive Systems, Nissan Copper, Shri Aster Silicates and Surya Pharmaceuticals.

In addition, NSE said seven firms will be delisted due to liquidation on the same day. These firms are - Brandhouse Retails, Elder Pharmaceuticals, First Leasing Company India, Glodyne Technoserve, Helios and Matheson Information Technology, Tulip Telecom and Varun Industries.

Under the compulsory delisting regulations, the delisted company, its whole-time directors, promoters and group firm would be debarred from accessing the securities market for ten years from the date of compulsory delisting.

Promoters of these delisted companies will be required to purchase the shares for the public shareholders as per the fair value determined by the independent valuer appointed by BSE.

Further, these companies will be moved to the dissemination board of the exchange for five years as advised by Sebi.
| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
IndusInd Bank 1,675.30 2.97
Indiabulls Hsg 948.85 -0.01
Dewan Housing 282.70 0.39
Bajaj Finance 2,346.50 1.75
Axis Bank 585.95 1.63
Company Price Change %Gain
Indiabulls Hsg 949.05 0.04
SBI 266.50 1.20
Dewan Housing 283.00 0.59
Graphite India 997.15 3.89
Infosys 702.50 0.49
Top Gainers
Company Price Change %Gain
IndusInd Bank 1,675.30 2.97
UltraTechCement 3,800.40 2.48
M&M 766.75 2.37
Asian Paints 1,275.85 2.04
Bajaj Finance 2,347.65 1.80
Company Price Change %Gain
IndusInd Bank 1,675.20 2.97
Asian Paints 1,276.55 2.41
M&M 766.80 2.43
Adani Ports 327.20 1.74
ICICI Bank 319.25 1.93
Top Losers
Company Price Change %Gain
Bharti Infratel 265.65 -1.10
HCL Tech 993.70 -0.92
ITC 280.65 -0.65
Hindalco 230.35 -0.60
TCS 1,938.25 -0.58
Company Price Change %Gain
Wipro 317.55 -0.89
TCS 1,937.90 -0.58
ITC 280.70 -0.32
Sun Pharma 596.45 -0.51
Kotak Mahindra 1,167.00 -0.30

Live TV

Loading...
Loading...