Hi,
The company was listed in Madras stock exchange (MSE). When MSE got de-recogonised, gave an option to delist the shares. Company opted for delisting. In between the process company went under liquidation (under IBC). What is the next process to be done? Company's master data as per MCA shows as unlisted company.
Kindly clarify the practical aspects.
Thank you
The company's liquidation under the IBC overrides the voluntary delisting process. Management control has shifted to the Liquidator, and shareholders are subject to the IBC’s "waterfall" distribution mechanism, where equity holders are the last to be paid. You should monitor official IBC public announcements for any updates regarding asset distribution, but generally, shares in a liquidated company lose their tradable value.
CCI
Pro
CAclubindia
