TaxTMI 
TaxTMI 
Action against Exclusively Listed Companies and its Promoters/Directors pending Exit Offer to the Shareholders
X X X X Extracts X X X X
X X X X Extracts X X X X
....Listed Companies on the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies) Dear Sir/Madam, Sub: Action against Exclusively Listed Companies and its Promoters/Directors pending Exit Offer to the Shareholders 1. SEBI vide circular dated October 10, 2016, provided options to the Exclusively Listed Companies ("ELCs") on D....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of ten years from the exit from the DB. * Freezing of shares of the promoters/directors. * List of the directors, promoters etc. of all non-compliant companies as available from the details of the company with NSE/BSE shall be disseminated on SEBI website and shall also be shared with other related agencies. * Attachment of bank accounts/other assets of promoters/directors of the companies ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hareholders in compliance with SEBI circular dated October 10, 2016, as certified by the concerned Designated Stock Exchanges ; b. The non-compliant Exclusively Listed Companies, its directors, its promoters and the companies which are promoted by any of them shall not be eligible to access the securities market for the purposes of raising capital till the promoters of such non-compliant Exclusi....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... to the Dissemination Board of NSE and BSE and whose shares are available for buying and selling on Dissemination Board. 5. The concerned Designated Stock Exchanges and Depositories shall co-ordinate with each other and ensure compliance of these requirements. 6. SEBI may also take any other appropriate action(s) against the promoters/directors of Exclusively Listed Companies for non-compliance ....