NSE issues notice to UB Holdings, among others for delisting of shares

INDORE, India - May 23, 2018 - PRLog -- Leading bourse National Stock Exchange of India Ltd (NSE) has issued a show-cause notice to defaulter businessman Vijay Mallya-led United Breweries Holdings Ltd (UB Holdings) for delisting of its shares, as its trading has been suspended for a long time on account of regulatory non-compliance.

The show-cause notice was issued to fifteen other companies, which include NEPC India Ltd, Net-4-India Ltd, Orbit Corporation Ltd, REI SixTen Retail Ltd (RSTRL) , Shree Ganesh Jewellery House (I) Ltd and REI Agro Ltd.

The NSE has decided to remove/suspend some of these companies' shares from its trading platform, due to liquidation, while for some companies the suspension has been on account of non-compliance to listing regulations.

Some Companies are already facing Additional Surveillance Mechanism (ASM).   The ASM requires 100 percent margin and a price band of 5 percent or lower for trading in shares.

The name of the companies which are facing ASM include Austral Coke & Projects , Bombay Rayon Fashions Ltd, Electrosteel Steels Ltd, Gitanjali Gems Ltd, GTL Infrastructure Ltd, Jaypee Infratech Ltd, Vakrangee Ltd, Stampede Capital Ltd, Indiabulls Ventures Ltd, Talwalkars Better Value Fitness Ltd and Usher Agro Ltd.

The Additional Surveillance Mechanism requires 100 pc margin and a price band of  5 pc or lower for trading in shares.

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