BSE at the cancellation of 9 companies; you will not be able to trade these shares from Monday

As of Monday, the shares of these companies would no longer be available for trading on the stock exchange platform. (Reuters)

The Bombay Stock Exchange (BSE) will remove nine companies, including Anil Ltd, Brakes Auto (India) Ltd., Indus Fila, IQ Infotech and Lok Housing & Constructions, among others, as of Monday in their shares has been suspended for more than six months now, he said in a notification released Friday. Earlier in August, the exchange had written off 17 companies from 222 and 200 in July and May respectively.

"nine companies suspended for more than six months would be delisted from the stock exchange platform, with effect from November 5, 2018, in accordance with the order of the delisting committee," said BSE in the circular . Sibar Software Services (India), Metropoli Overseas, Pithampur Steels and Prakash Solvent Extractions will also be removed from the list.

Starting on Monday, the shares of these companies will no longer be available for trading on the stock exchange platform and the promoters of these companies, the group companies, their full-time directors and their full directors They will also have to purchase shares from public shareholders, based on the fair value determined by the independent appraiser, who will be appointed by the exchange. Promoters will no longer be allowed to access the securities markets for 10 years. "In addition, these companies would be shifted to the stock market's board for a period of five years, according to Sebi's instructions," noted BSE.