SAT lifts curbs on another six companies

India Infoline News Service | Mumbai | August 12, 2017 13:10 IST

The Securities Appellate Tribunal (SAT) has lifted curbs on trading in shares of six suspected shell companies a day after it allowed transactions to resume in the scrips of J Kumar Infraprojects and Prakash Industries.

The Securities Appellate Tribunal (SAT) has lifted curbs on trading in shares of six suspected shell companies a day after it allowed transactions to resume in the scrips of J Kumar Infraprojects and Prakash Industries. It may provide relief to investors in firms that reportedly deal in industries as diverse as property and alcoholic beverages.
 
The companies granted relief by the SAT include Parsvnath Developers, Kavit Industries, Pincon Spirit, Signet Industries, SQS India BFSI, and Kalpana Industries.
 
On Monday, India's market regulator the Securities Exchange Board of India (SEBI) directed stock exchanges to take action against 331 suspected shell companies. The eight companies that received a stay from SAT featured in the original list of stocks facing SEBI's curbs.
 
The stock exchanges have said that these six companies will be moved out of the Graded Surveillance Measure (GSM) framework and will be available for trading with effect from Monday.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.