manish juneja (Assistant Company Secretary) (54 Points)
14 September 2011Hello Members
When can any stock exchange change the group of companies share/securities.
What remedies are available with the company whose stock group has been changed.
AMIT MISHRA
(Legal Professional)
(393 Points)
Replied 14 September 2011
Hi Manish,
As told earlier the Stock Exchanges change the groups like B to Z or T etc due to various non compliances on the part of the Company. Thats generally the non payment of fees, non submission of quarterly. annual documents and compliances or insider trading activities etc. In your case as told before deposit the necessary stock exchange fees, submit all the required documents and compliances and the stock exchange being satisfied may restore the group at a later date. In your case if you have recieved any non compliance letter from stock exchange comply with the same, comply with ROC cannual and quarterly compliances etc.
Thanks & Regards
Amit Mishra
BSamrish & Co
New Delhi
manish juneja
(Assistant Company Secretary)
(54 Points)
Replied 14 September 2011
Hi Amit
Thanks again for your prompt reply. As stated co hasnt done any listing compliances for last 10 years. Though its complying with Roc matters. It hasnt received any letter from stock exchnage.
But rather co now wants revival. Therefore the question is whether it has to comply those compliances of past 10 years or can it get away with it & start afresh or it should get delisted.
AMIT MISHRA
(Legal Professional)
(393 Points)
Replied 14 September 2011
Hi Manish,
Delisting is at Company's own will but to stay listed yes certainly compliances with all the stock exchange formalities of past like quarterly disclosures etc needs to be done. There is no shortcut to that. The non compliances has led to your share being shifted to a different group. You also have an option to write to the stock exchange and ask them about the same. Then in their reply they will set out the non compliances and then you may decide whether to comply or delist.
Thanks & Regards
Amit Mishra
BSamrish & Co
New Delhi
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