| Alang Marine |
22-Aug-2024 |
26-Aug-2024 |
Trading Members of the Exchange are hereby informed that the undermentioned 11 companies that have remained suspended for more than 6 months would be delisted from the platform of the Exchange, with effect from August 26, 2024 pursuant to order of the Delisting Committee of the Exchange in terms of Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021 ("Regulations").
Scrip Code
520133
Company Name
Alang Marine Limited
* This Company would be delisted in terms of Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009.
Consequences of compulsory delisting.
1. As per SEBI (Delisting of Equity Shares), Regulations, 2021: -
The securities of the companies would cease to be listed and therefore not be available for trading on the platform of the Exchange.
In terms of Regulation 34 (1) of SEBI (Delisting of Equity Shares), Regulations, 2021, the delisted company, its whole-time directors, person(s) responsible for ensuring compliance with the securities laws, promoters, and companies which are promoted by any of them shall not directly or indirectly access the securities market or seek listing of any equity shares or act as an intermediary for a period of 10 (ten) years from the date of delisting.
Promoters of these delisted companies would be required to purchase the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the Exchange, as mentioned in the Public Notice to be issued shortly.
Also, as per provisions of Regulation 34(2) of the SEBI (Delisting of Equity Shares), Regulations, 2021, 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 (4) of regulation 33 of these regulations, as certified by the relevant recognized stock exchange;
the promoters, whole-time directors and person(s) responsible for ensuring compliance with the securities laws, of the compulsorily delisted company shall also not be eligible to become directors of any listed company till the exit option as mentioned in clause (a) is provided.
As per SEBI (Delisting of Equity Shares), Regulations, 2009:-
The securities of the company would cease to be listed and therefore not be available for trading on the platform of the Exchange.
Further, in terms of Regulation 24 (1) of SEBI (Delisting of Equity Shares), Regulations, 2009, the delisted company, its whole-time directors, promoters, and the companies which are promoted by any of them shall not directly or indirectly access the securities market or seek listing for any equity shares for a period of ten years from the date of such delisting.
Promoters of the delisted company would be required to purchase the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the Exchange, as mentioned in the Public Notice to be issued shortly
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
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;
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. |
| K K Fincorp |
06-Aug-2024 |
21-Aug-2024 |
Trading Members of the Exchange are hereby informed that pursuant to the SEBI (Delisting of Equity Shares) Regulations, 2021 as amended from time to time, the company has complied with the formalities for voluntary delisting of Equity shares. Accordingly, the trading in the equity shares of K K Fincorp Limited (Scrip Code: 503669) will be discontinued w.e.f. Tuesday, August 13, 2024.
Further the above scrip will be delisted from the Exchange records w.e.f. Wednesday, August 21, 2024.
Trading Members may further note that the exit option will be kept open by the promoter/ acquirer of the company i.e. Bajrang Finance Limited, Remi Sales and Engineering Limited, Remi Securities Limited, for the remaining public shareholders up to a period of one year from the date of delisting at the rate of Rs. 25/- (Rupees Twenty Five only) per Equity Share, being the exit price determined. |
| Birla Tyres |
01-Aug-2024 |
08-Aug-2024 |
Trading Members of the Exchange are hereby informed that pursuant to order by the Hon'ble National Company Law Tribunal, Bench II, Kolkata, dated October 19, 2023, BIRLA TYRES LIMITED ("the Company") applied for delisting of its equity shares.
The Company has confirmed that it has complied with the requirements of NCLT order dated October 19, 2023, for delisting.
Further the above scrip will be delisted from the Exchange records w.e.f. Thursday, August 08, 2024.
Trading Members of the Exchange are requested to take note of the above. |
