SEBI suspends trading of securities in 331 shell companies. Download Complete list of 331 shell companies

SEBI suspends trading of securities in 331 shell companies. Trading permitted only on 1st Monday of month. Download Complete list of 331 shell companies

331 shell companies

SEBI in its communication dated 7th August, 2017 has forwarded a database of 331 shell companies to all Stock Exchanges (i.e. BSE, NSE, MSE ) which have been identified by Minisrty of Corporate Affairs (MCA) as suspected shell companies.

SEBI has aksed Stock Exchanges to put the trading of securities of such listed companies under Graded Survilliance measures (GSM) as a result of which the trading of the securities of such companies have been suspended from today. Trading in these securities shall be permitted once a month (First Monday of the month)

Download the complete list of 331 shell companies 

The Complete text of SEBI communication to Stock Exchanges is as under:

Integrated Surveillance  Department
Chief General Manager
Phone: 2644 9630, Fax: 2644 9042



August 07, 2017

The Managing Director and CEO
Bombay Stock Exchange,
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai – 400 001


The Managing Director and CEO
National Stock Exchange of India Ltd.
Exchange Plaza, Bandra Kurla Complex
Bandra (E)
Mumbai – 400093

The Managing Director and CEO,
Metropolitan Stock Exchange of India Ltd
4th floor, Vibgyor tower,
Opposite  Trident  Hotel,
Bandra-Kurla Complex
Mumbai – 400 098

Dear Sir (s},

Subject: Database of listed Shell Companies

SEBI is in receipt of a letter no. F. No. 03/73/2017-CL-11 dated June 09, 2017 from the Ministry of Corporate Affairs {MCA) on the above captioned matter,vide which MCA has identified a list of 331 companies  as suspected shell companies for initiating necessary action as per SEBI laws/regulations. Copy of the list of 331 companies is enclosed herewith.

1. In this regard exchanges are advised to identify the listed companies out of the list of 331 companies on their exchange and take following measures:

(a) Trading in all such listed securities shall be placed in Stage VI of the Graded Surveillance Measures (GSM) with immediate effect. If any listed company out of the said list is already identified under any stage of GSM, it shall also be moved to GSM stage VI directly . Under the Stage VI of GSM, trading in these identified securities shall be permitted to trade once in a month under trade to trade category . Further, any upward price movement in these securities shall not be permitted beyond the last traded price and Additional Surveillance Deposit of  200% of trade value shall be collected from the Buyer which shall be retained with Exchanges for a period of five months.

(b) The shares held by the promoters and directors in such listed companies shall be allowed to be transferred by depositories only upon verification by concerned exchanges and they shall not be allowed to transact in the secur ity except to buy securities in the said listed company until verification of credential/fundamental by Exchanges is completed.

(c) Exchanges shall initiate a process of ve rifying the credentials/fundamentals of such Exchanges shall appoint an independent auditor to conduct audit of such listed companies and if necessary, even conduct forensic audit of such companies to verify its credentials/fundamentals.

(d) On verification, if Exchanges do not find appropriate credentials/fundamental s about existence of the company, Exchanges shall initiate the proceedings for compulsory delisting against the company, and the said company shall not be permitted to deal in any security on exchange platform and its holding in any depository account shall be frozen till such delisting process is completed.

2. Out of the said list of 331 shell companies, if securities of any of the listed companies are under suspension, the trading in such securities shall be placed under GSM Stage VI directly on revocation of suspension by Exchanges.

Yours Faithfully

(Sunil Kadam)

List of 331 Companies

Copy to:

  1. National Secur ities Depository Limited
    Times Tower, 1st Floor,

    Kamala Mills Compound,
    Senapati Bapat Marg, Lower Parel,
    Mumbai- 400013
  1. Central Depository Services
    17th floor,  P J  Towers,

    Dalal Street, Mumbai – 400001

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