“Exclusively Listed corporations (ELCs) on Dissemination Board (DB),” and its administrators and promoters listed under SEBI initiative.
Such corporations were allowed to be a part of the national exchanges, submitting an idea of action for an exit choice to shareholders.
SEBI will bar such promoters and corporations from accessing the stock exchange for an amount of ten years with the exception of phase change the shares command by promoters and administrators. The regulator will even attach the bank accounts and different assets of promoters and administrators to compensate the investors.
536 traceable companies
The point to submit the arrange of action was extended until June thirty. As per SEBI, of the 2,000 corporations listed on dissemination board as on junk thirty, there are 536 entities that are traceable and nevertheless not submitted an idea of action.
There are few ELCs, illustrating to SEBI/Stock Exchanges and their representations are underneath examination. There is the extension in time grant by SEBI to submit arrange of action by such ELCs until Sept thirty, 2017,” consistent with an announcement from SEBI.