CS Lalit Rajput
Quick Summary
Listed Companies - Be Alert !! NSE and BSE both vide Circular Ref No: NSE/CML/2020/53 and notice no. 20201106-39 dated 06.11.2020, respectively haveissued circular stating Action(s) to be initiated against listed companies for non-payment of outstanding Annual Listing Fees (ALF) for Financial Yea
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FAQ :
Consequences include having the company's name displayed on the exchange website, a specific message on their stock page indicating non-payment and violation of regulations, and their equity shares being moved from the Normal Rolling Segment to the Trade to Trade Segment.
The outstanding Annual Listing Fees for FY 2020-21 must be paid on or before November 20, 2020.
NSE and BSE will display defaulting companies' names on their websites, add a violation message to their stock pages, and move their shares to the Trade to Trade Segment. A notice will also be issued to market participants.
Yes, Public Sector Undertaking (PSU) companies, companies admitted under the Insolvency and Bankruptcy Code by the NCLT, and companies with only Debt/Mutual Funds listed are excluded.
Yes, these actions would also apply to Small and Medium Enterprises (SME) companies listed on the Exchange who have defaulted in paying ALF for Financial Year 2020-21.
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