Corporate Updates – 23-08-2017


BSE has issued a public notice stating that the Trading Members of the Exchange are hereby informed that the 55 companies that have been compulsorily delisted by NSE, would be delisted from the platform of the Exchange, with effect from August 23, 2017 pursuant to order of the Delisting Committee of the Exchange (BSE) in terms of Section 21(2)(b) of the Securities Contracts (Regulation) Rules 1957. Some of these companies are under liquidation. Exit price is not applicable to those companies, however consequences under Regulation 24 of the Delisting Regulations are applicable to such companies. As per SEBI Delisting Regulations, 2009 the consequences of compulsory delisting would apply to the said companies and the securities of these companies would cease to be listed and therefore not be available for trading on the platform of the Exchange. The Promoters of these delisted companies will 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. Further, these companies would be moved to the Dissemination Board of the Exchange for a period of 5 years as advised by SEBI.


Department of Trade and Taxes has extended the time limit for filing of online return for first quarter of 2017-18. The Department has extended the last date for filing of online return for first quarter of 2017-18 in form DVAT-16, DVAT-17 & DVAT-48 upto 01st September, 2017. The Dealers filing the returns through digital signature need not file hard copy of the Return/Form in DVAT-56.

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