Trading Members of the Exchange are hereby informed that the undermentioned suspended companies at the Exchange have been compulsorily delisted by NSE. In view thereof in terms of Rule 21(2)(b) of the Securities Contracts (Regulation) Rules, 1957 (“Regulations”) which states that “If the securities is delisted under clause (1), ……. the said securities shall be delisted from all recognized stock exchanges”, these companies would be delisted from the platform of the Exchange, with effect from September 20, 2021.
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Sr. No.
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Scrip Code
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Company Name
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1
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532787
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Ess Dee Aluminium Limited
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2
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532961
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Sita Shree Food Products Limited
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3
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517080
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High Ground Enterprise Limited
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4
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532788
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XL Energy Limited
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5
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503881
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Hind Syntex Limited
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Consequences of compulsory delisting.
1) As per SEBI (Delisting of Equity Shares), Regulations, 2009:-
· The securities 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 mentioned in the notices issued by NSE dated August 5, 2021 and August 12, 2021 respectively, which will be mentioned in the Public Notice to be issued shortly.
· Further, in terms of Regulation 24 (1) of SEBI (Delisting of Equity Shares), Regulations, 2009, 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.
· Also, as per provisions of Regulation 24(2) of the SEBI (Delisting of Equity Shares), Regulations, 2009, in case of companies whose fair value is positive –
a) such a company and the depositories shall not effect transfer, by way of sale, pledge, etc., of any of the equity shares held by the promoters/ promoter group and the corporate benefits like dividend, rights, bonus shares, split, etc. shall be frozen for all the equity shares held by the promoters/ promoter group, till the promoters of such company provide an exit option to the public shareholders in compliance with sub-regulation (3) of regulation 23, as certified by the concerned recognized stock exchange;
b) the promoters and whole-time directors of the compulsorily delisted company shall also not be eligible to become directors of any listed company till the exit option as stated in clause (a) above is provided.
2) Further, these companies would be moved to the Dissemination Board of the Exchange for a period of 5 years as directed by SEBI.
In case the Trading Members require any clarification, they may contact Ms. Anshu Shrivastava on 8879320044 or on email id bse.revocation@bseindia.com.
Netra Sahani Arpita Joshi
Addl. General Manager Manager
Listing Compliance
September 16, 2021
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