Looking to deal with long-suspended listed companies, National Stock Exchange (NSE) has decided to delist as many as 14 companies from its platform from November 22.
The companies to be delisted include Cepham Milk Specialities, Damania Capital Markets, Dataline and Research Technologies, Grapco Industries, HMG Industries, Mandu Industries, Nova Steel India, Rajinder Pipes, Rajinder Steels.
In addition, Chemox Laboratories, Sanderson Industries, Sunstar Lubricants and Zen Global Finance are also on the list.
In a circular, NSE said it has decided to delist (withdraw the admission to dealings in) equity shares of these 14 companies "with effect from November 22, 2016 as per Chapter V of Sebi (Delisting of Equity Shares) Regulations, 2009".
Chapter V of Sebi (Delisting of Equity Shares) Regulations deals with compulsory delisting.
Earlier, the exchange had delisted another 14 companies from its platform from August 31, as these entities were in the process of winding up their respective businesses.
In April, an NSE public notice had named 80 companies for compulsory delisting as trading in shares of these entities had been suspended over a long period of time.
Under compulsory delisting, these firms would cease to be listed on the exchange and would move to the dissemination board of the exchange.
Bourses have been making efforts to delist companies suspended over long period of time, while market regulator Sebi is also planning to push for delisting of over 4,200 listed firms whose shares are not being traded.
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