New Delhi [India], Jan 19 : The Bombay Stock Exchange (BSE) on Thursday announced its decision to delist 36 companies listed on its platform from January 20 as they have remained suspended for more than 13 years.
As per the circular released by the leading stock exchange, the step is in addition to over 250 firms already delisted by the exchange last year.
The securities of these firms have been under suspension for more than 13 years on account of non-compliance of various clauses of listing regulations.
"Trading-members of the exchange are hereby informed that 36 firms that have remained suspended for more than 13 years would be delisted from the platform of the exchange, with effect from January 20, 2017," read the BSE circular.
It added that the move is pursuant to order of the Delisting Committee of the exchange in accordance with regulations by Securities and Exchange Board of India (Sebi).
Further, the delisted company, its whole-time directors, promoters and group companies shall be debarred from accessing the securities market for a period of 10 years from the date of compulsory delisting.
The companies will be now shifted to BSE's dissemination board for a period of five years as per the Sebi guidelines. (ANI)