BSE initiates IBC proceedings against seven companies


Mumbai, Dec 12 (IANS): Stock exchange major BSE on Tuesday filed proceedings under the Insolvency and Bankruptcy Code (IBC) 2016 against seven listed companies for failing to pay the "Annual Listing Fees" (ALF) in spite of "advance intimation, reminders and grant of sufficient time in the past few years".

According to the BSE, there are about 130 companies which have failed to pay ALF and continue to be listed and traded on its platforms.

"In the interest of investors who may be trading in such companies, it has become incumbent to initiate action against such listed companies defaulting in payment of listing fees, under the Insolvency and Bankruptcy Code, 2016," the BSE said in a statement.

"Accordingly, BSE has already filed proceedings against the seven defaulting companies before the Hon'ble National Company Law Tribunal, Mumbai on account of their failure to pay annual listing fees over a period of time. Similar action is being envisaged against other companies too."

  

Top Stories


Leave a Comment

Title: BSE initiates IBC proceedings against seven companies



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.