kanthimathinathan

Securities and Exchange Board of India (SEBI) vide circular no. CIR/ MRD/ DSA/ 14/ 2012 dated May 30, 2012 on “Exit Policy” provided an exit option to the de-recognised stock exchanges and recognised stock exchanges seeking voluntary surrender of recognition ("exiting RSEs"). Companies listed exclusively on exiting or de-recognised RSEs were required to seek listing on atleast one other Exchange that is not seeking de-recognition and exit in terms of the aforesaid SEBI Circular. As per the aforesaid SEBI Circular, company failing to list on other Exchange shall be treated as an unlisted company and shall be moved to Dissemination Board (DB) of a nation wide Stock Exchange by such “exiting” Exchange. As such those companies become unlisted.