(ET)
The BSE on Monday said that it will compulsorily delist 200 companies with effect from Wednesday and will bar promoters of these companies from accessing the securities market for ten years. These companies belong to various sectors ranging from chemicals and fertilizers, pharmaceuticals, finance and textile companies. The exchange announced this in three different circulars. The first circular pertained to 117 companies that have remained suspended for more than ten years.
According to this circular, as per the Securities and Exchange Board of India’s delisting regulations, promoters of these delisted companies will be required to buy the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the BSE.
