SEBI has identified 331 shell companies, trading closed from today - AskBihar24X7 - Bihar & Jharkhand News

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Tuesday, August 08, 2017

SEBI has identified 331 shell companies, trading closed from today

Market regulator SEBI has issued a list of 331 companies on Monday, scaling up the shell companies. There are also listed companies. For the purpose of preventing black money, SEBI has said that these companies will not be trading this month. Trade has been closed since Tuesday.
Shell companies are dubious companies which usually use illegal funds for laundering. If these companies are talking about the operation, then there is no work of any kind in them, only entries on paper are recorded. However, the company's act does not define the term shell company.
According to the Bombay Stock Exchange, trading in these listed securities should be done with immediate effect in Stage VI of Grade-Served Measures (GSM). If a listed company has previously been identified under any stage of GSM, then it has to be sent directly to Stage VI of GSM.

                                             

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