Description

BSE announces that the delisting of Birla Capital & Financial Services Ltd. (Scrip Code: 512332) has been rescinded by order of the Securities Appellate Tribunal, with company status changing from 'Delisted' to 'Suspended' effective October 28, 2025.

Summary

BSE has informed that pursuant to an order issued by the Hon’ble Securities Appellate Tribunal (SAT), the delisting of Birla Capital & Financial Services Ltd. (Scrip Code: 512332) has been rescinded. Consequently, the company’s status will be changed from “Delisted” to “Suspended” with effect from October 28, 2025. As a result of this status change, the provisions of Regulation 24(1) and Regulation 24(2) of SEBI (Delisting of Equity Shares) Regulations, 2009 are no longer applicable to the company.

Key Points

  • Delisting of Birla Capital & Financial Services Ltd. (Scrip Code: 512332) has been rescinded by Securities Appellate Tribunal order
  • Company status will change from “Delisted” to “Suspended” effective October 28, 2025
  • SEBI Delisting Regulations 24(1) and 24(2) provisions are no longer applicable to the company
  • Notice issued by Netra Sahani (Deputy Vice President, Listing Compliance) and Manish Raval (Manager, Listing Compliance)

Regulatory Changes

The rescission of delisting represents a reversal of the company’s previous regulatory status. The Securities Appellate Tribunal’s order has nullified the delisting action, requiring BSE to restore the company to a listed (though suspended) status. This change removes the applicability of SEBI (Delisting of Equity Shares) Regulations, 2009, specifically Regulation 24(1) which deals with the consequences of delisting and Regulation 24(2) which addresses the post-delisting obligations.

Compliance Requirements

The company will need to comply with requirements applicable to suspended securities rather than delisted securities. Birla Capital & Financial Services Ltd. must adhere to BSE’s regulations governing suspended companies, which may include periodic disclosures and conditions for potential resumption of trading. The company is no longer subject to the post-delisting compliance framework under SEBI Delisting Regulations.

Important Dates

  • October 24, 2025: Notice issued by BSE
  • October 28, 2025: Effective date for status change from “Delisted” to “Suspended”

Impact Assessment

This is a highly significant development as tribunal-ordered rescissions of delisting are rare occurrences. The status change from delisted to suspended restores the company’s presence on the exchange platform, potentially opening pathways for shareholders who were previously affected by the delisting. While the suspended status means shares cannot be actively traded, it represents a higher regulatory standing than delisted status and may indicate potential for future resolution of issues that led to suspension. Investors and shareholders of Birla Capital & Financial Services Ltd. should monitor further announcements regarding conditions for lifting the suspension or any compliance requirements imposed by the tribunal order.

Impact Justification

Significant regulatory reversal affecting company listing status; rare tribunal-ordered rescission of delisting impacting shareholder rights and regulatory compliance framework