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of <h1>SEBI Circular Guides ELCs on De-recognized Exchanges for Listing or Investor Exit; Non-compliance Leads to Penalties.</h1> The circular issued by SEBI addresses the process for exclusively listed companies (ELCs) on de-recognized or non-operational stock exchanges that are placed on the Dissemination Board (DB). It outlines options for ELCs to either list on nationwide stock exchanges by raising capital through preferential allotment or provide an exit mechanism for investors. The designated stock exchanges will oversee compliance and facilitate these processes. Failure to comply may result in penalties, including market restrictions and asset freezing for promoters and directors. The circular aims to protect investor interests and ensure regulatory compliance for ELCs.
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