Leading stock exchange BSE will delist as many as 17 companies from Tuesday as trading in their shares has remained suspended for over six months.
The exchange has been delisting for the past few months those firms in which trading have remained suspended for a long period.
In a circular, BSE on Monday said, “17 companies that have remained suspended for more than 6 months would be delisted from the platform of the exchange, with effect from August 21, 2018, pursuant to an order of the delisting committee”.
These companies are — Associated Marmo & Granites, Baroda Electric Meters, Bihar Air Products, Cana Glass, Graphic Charts, IAG Company, Kiev Finance, Mahavir Impex, Neelkanth Motels & Hotels, Prithvi Information Solutions, Realtime Finlease and Sibar Media & Entertainment.
Besides, Sudar Industries, Valuemart Retail Solutions, Graham Firth Steel Products India, Spartek Ceramics India and Yule Financing & Leasing Company are also facing delisting.
According to the exchange, shares of these companies would cease to be listed and therefore not be available for trading on the platform of the exchange.
Promoters of these delisted companies will be required to purchase the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the exchange.
Further, these delisted companies, their whole-time directors, promoters and group firms will be debarred from accessing the securities market for a period of 10 years.
In July, BSE had delisted 222 companies, while in May, it had delisted over 200 firms.