SEBI’s Directive for migration of Companies exclusively listed on Non-operational Stock Exchanges
The Capital Market Regulator, SEBI with the intent to refurbish the regime of Indian Capital Market has decided to proceed with the compulsory de-recognition and exit of those Stock Exchanges that have not achieved the minimum turnover of Rs.1,000 crore (as directed by SEBI vide its Circular dated 30 th May, 2012) at the end of the stipulated period, i.e. by 30 th May,2014. Ms. Anjali Aggarwal Vice President +919971673336 anjali@indiacp.com Accordingly, to redress the concerns of how to deal with the Companies exclusively listed on non-operational stock exchanges and with the primary intent to safeguard the interest of the public shareholders, SEBI vide its circular dated 22 nd May, 2014 have given following options to such listed entities: