Description
NSE removes 12 companies from Dissemination Board due to strike off, dissolution, or dormant status on MCA website.
Summary
NSE has removed 12 exclusively listed companies from its Dissemination Board (DB) effective August 28, 2024, following SEBI Circular SEBI/HO/MRD/DSA/CIR/P/2016/110 dated October 10, 2016. The removal is based on the companies’ updated status on the Ministry of Corporate Affairs (MCA) website.
Key Points
- 12 companies removed from NSE Dissemination Board
- Action taken pursuant to SEBI circular from October 2016
- Companies had various inactive statuses on MCA website
- Removal effective from August 28, 2024
Companies Removed
Strike Off Status (1 company):
- Accord Cotsyn Limited
Dissolved (Liquidation) Status (10 companies):
- Invogue Furnishers & Builders Limited
- Karnataka Chem Ind Corp Limited
- Mercury Phytochem Limited
- Narain Jewels International Limited
- Tulip Finance Limited
- Anjani Solvents India Limited
- Monarch Laboratories Limited
- Rajratan Synthetices Limited
- Rishi Oil & Fats Limited
- Vishal Footwear Limited
Dissolved under Section 54 Status (1 company):
- Rave Globls Limited
Dormant under Section 455 Status:
- None explicitly listed with this status
Regulatory Changes
No new regulatory changes introduced. This action follows existing SEBI guidelines for handling companies with changed corporate status.
Compliance Requirements
Members are advised to note that these companies will no longer be available on NSE’s Dissemination Board for information or trading purposes.
Important Dates
- Effective Date: August 28, 2024
- Circular Date: August 22, 2025
Impact Assessment
Minimal market impact as these companies were already inactive with changed corporate status. The removal is an administrative cleanup measure to maintain accuracy of the Dissemination Board database.
Impact Justification
Administrative removal of inactive companies with no trading impact