SEBI — Non-listing of Companies.
Ashok B. Bhansali
There were so many companies which were enrolled or registered to float their stock on BSE OR NSE by way of listing. People had invested crores of rupees in such companies and they have been de-listed and small investors were left with no choice than to retain their investment as they were not allowed to sell/transfer their stocks in the market and as such they are kept in losses as per the sweet choices and whims of the Company Directors. This large scale duping game is being played without any regulatory control and most of the companies are still gaining wrongfully. Though there might be certain guide-lines for listing of companies- but there should also be specific provisions to safeguard the interests of small investors. SEBI may recover penalty as well as compulsory fees as land revenue collection from the companies and any default on the part of company may be viewed seriously by informing largely that companies are not serious for managing the affairs properly. Delisting period should be allowed in such manner so that investor can liquidate their stocks at pre-decided prices by SEBI- which may be recovered from companies.
Will authorities of SEBI will look into the matter? Hope that they will take pro-active measure to end this game of duping public at large.
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