BSE's Revised Suspension Revocation Norms- Extension of Date

CS Ankur Srivastava (Company Secretary & Compliance Officer)   (17853 Points)

30 June 2011  

BSE's Revised Suspension Revocation Norms- Extension of Date

Bombay Stock Exchange (BSE), vide its earlier Communication revised the Norms for "Revocation of Suspension" and the same were to be effective from 1st July 2011.

Now, vide its Communication dated 29th June 2011, it has extended the date for implementation of the revised norms from 1st July 2011 to 1st October 2011.

For a ready reference, the new Norms for Revocation of Suspension to be applicable from 1st October 2011 are as under:

S. No. Particulars New Provisions
1. Issued and Paid Up Capital Minimum Rs. 10 Crores
Net Worth (excluding revaluation reserves) Minimum Rs. 50 Crores in 3 immediately preceding financial years
2. Profit Making Track Record (Extraordinary income shall not be considered for calculating distributable profits) Distributable profits In terms of Sec. 205 of the Companies Act, 1956 for at least 3 out of 5 immediately preceding years based on audited financial results with the last financial year reporting profit
3. Public Shareholding As per SCRA, SCRR and Listing Agreement
4. No. of Public Shareholders Minimum 500
5. Trading in Compulsory DEMAT Minimum 50 % of the public shareholding to be in demat form