BSE to de-list 'compulsorily' 200 firms on Wednesday
Source: Business Standard Aug 22, 2017
Leading stock exchange BSE will “compulsorily” delist 200 firms this week and bar their promoters from the markets for 10 years as trading in these shares have remained suspended for over a decade. All these companies will be delisted from Wednesday.
The move comes at a time when authorities are clamping down on shell companies — listed as well as unlisted — for allegedly being used as conduits for illicit fund flows. Earlier this month, Sebi directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 175,000 firms that have not been carrying out business activities for long.