Description

BSE announces compulsory delisting of Manpasand Beverages Ltd following 6+ months suspension, with 10-year market access ban for promoters and directors.

Summary

BSE announces the compulsory delisting of Manpasand Beverages Ltd (Scrip Code: 539207) effective August 5, 2025, following the company’s suspension for more than 6 months. The delisting is ordered by BSE’s Delisting Committee and Securities Appellate Tribunal (SAT) under SEBI Delisting Regulations 2021.

Key Points

  • Manpasand Beverages Ltd (539207) to be compulsorily delisted from August 5, 2025
  • Company suspended for over 6 months triggering delisting provisions
  • Order issued by BSE Delisting Committee and SAT dated July 25, 2025
  • Governed under SEBI (Delisting of Equity Shares) Regulations, 2021
  • Company will be moved to BSE’s Dissemination Board

Regulatory Changes

Implementation of SEBI Delisting Regulations 2021 provisions for compulsory delisting after prolonged suspension period exceeding 6 months.

Compliance Requirements

  • 10-Year Market Access Ban: Company, whole-time directors, compliance officers, promoters, and promoted companies banned from securities market access or seeking listing for 10 years
  • Promoter Share Purchase Obligation: Promoters must buy public shareholders’ shares at fair value determined by Exchange-appointed independent valuer
  • Share Transfer Restrictions: No transfer/sale/pledge of promoter shares until exit option provided to public shareholders
  • Corporate Benefits Freeze: Dividend, rights, bonus shares frozen for promoter holdings
  • Director Eligibility Ban: Promoters and directors cannot become directors of any listed company until exit option provided
  • Public Notice: Exchange to issue public notice detailing fair value and exit procedures

Important Dates

  • August 5, 2025: Effective delisting date
  • July 25, 2025: SAT order date
  • August 1, 2025: Notice date

Impact Assessment

High Impact: Complete cessation of trading access affects all shareholders. Severe 10-year penalties create significant regulatory deterrent. Promoters face mandatory buyback obligations at fair value. Sets precedent for strict enforcement of delisting regulations. Public shareholders require exit mechanism through promoter buyback at independently determined fair value.

Impact Justification

Compulsory delisting with severe penalties including 10-year market access ban affects investors and sets regulatory precedent