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Leading stock exchange BSE will ‘compulsorily’ delist 200 firms this week and bar their promoters from the markets for 10 years as trading in these shares has remained suspended for over a decade.
The move also comes at a time when authorities are clamping down on shell companies—listed as well as unlisted—for allegedly being used as conduits for illicit fund flows.
In early August, the Securities and Exchange Board of India (Sebi) directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 1.75 lakh firms that have not been carrying out business activities for long.
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