SEBI vide its Circulars dated 10th October, 2016 and 5th January, 2017 respectively has mandated all companies whose shares/ securities are or were listed on any de-recognized/ non-operational stock exchange(s), to get their shares either listed on any nationwide stock exchange (BSE & NSE) or provide an exit opportunity to the shareholders of company. Such companies are currently placed in ‘Dissemination Board’ of SEBI.
The companies have been given time till 31st March, 2017 to intimate to their dissemination board either of the following 2 options-
to opt for listing on nationwide stock exchange; or
provide an exit opportunity to its shareholders.
Most importantly, the companies are required to complete either of the two options by 30th September, 2017.
Please be aware that in case promoters of these companies fail to provide the Shareholders with either Listing and/or Exit Opportunity the following actions will be taken against the Company, its Promoters and its Directors-
Hence, this is a very important requirement and non-compliance will attract severe penalties both for company and its promoters/ directors.
We, at Legaldost.com, will help you with this compliance by either getting the shares of your company listed on any nationwide stock exchange or providing exit opportunity to your shareholders, as per your requirement and hence help saving the company and its promoters/ directors from heavy penalties. Please provide us the information in table and our professional will get in touch with you.