Mumbai: The National Stock Exchange i.e. NSE is going to delist nine companies by October 17. These include Lanco Infratech, Moser Baer, Amar Remedies, Supreme Tex Mart, Samtel Color, Hindustan Dorr-Oliver, Sarvalakshmi Paper, LML and Hanung Toys and Textiles. According to the Shanal Stock Exchange, these nine companies are undergoing liquidation. A circular states that NSE has decided to end listing of equity shares of these companies from 17 October 2018.

It is known that the stock market has been removing companies from its platform for the past few months which have been suspended for more than six months and according to the website of the Ministry of Corporate Affairs, they are in the process of liquidation. It is known that NSE had removed 14 companies from its platform in September. Under the delisting rules, the delisting company, its directors, promoters and groups will not be able to do any work in the securities market for 10 years from the date of exit from its platform.

Promoters of these companies will have to buy shares of existing shareholders at fixed prices, according to an independent valuer appointed by BSE. These companies will be transferred to the spread board of the exchange for five years as advised by SEBI. For information, let us tell you that after delisting, the delisted company is not available to buy or sell in the stock market.

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