LIST
OF LUDHIANA EXCHANGE OF INDIA LISTED COMPANIES SHIFTED TO DISSEMINATION BOARD
(I.E DASH BOARD)
The Ludhiana Stock Exchange
(Currently known as Ludhiana Stock and Capital Limited) was established in Year
1981, in region of Punjab, Jammu and Chandigarh. Ludhiana Stock Exchange/ Ludhiana Stock and
Capital was formed by Vardhman Group and Hero Group. Ludhiana Stock Exchange
has a subsidiary i.e L.S.E Securities Limited. L.S.E Securities Limited was
incorporated in Year 2000 to undertake trading and depository operations.
With SEBI (I.E Securities and Exchange Board
of India) circular No. CIR/ MRD/ DSA/ 14/ 2012 dated 30th May, 2012 all the
regional stock exchanges was closed down. All the Regional Stock Exchanges were
provided an exit option to the de-recognised stock exchanges and recognised
stock exchanges seeking voluntary surrender of recognition ("exiting
RSEs") as per the SEBI order. Companies listed exclusively on exiting or
de-recognised RSEs will be required to seek listing on atleast any other RSE
that is not seeking de-recognition and exit in terms of the aforesaid SEBI
Circular. As per the aforesaid SEBI Circular, companies failing to list on any
other RSE, such companies will be treated as an unlisted company and shall be
moved to Dissemination Board (DB) by such exiting or de-recognised RSE.
(Read full
order of SEBI - SEBI ORDER ON REGIONAL EXCHANGES)
SEBI has directed all exchanges that do not
possess a trading platform with an annual turnover of at least ₹1,000 crore and
a net worth of ₹100 crore, and that do not have a tie-up with a clearing
corporation, to exit. On
de-recognition of Ludhiana Stock Exchange Ltd, SEBI registration certificates
as Trading Members of Exchange stand canceled. However, SEBI registration
certificates of the Trading Members as Sub-Brokers of L.S.E. Securities Limited
on NSE and/ or BSE shall continue to be valid. All the Investors of Sub-Brokers
shall continue to trade through L.S.E. Securities Limited and avail DP Services
without any interruption.
Ludhiana Exchange had many valuable and noteworthy companies with strong
financial background and management control. Some of these Ludhiana listed
companies got listed on national wide stock exchanges i.e BSE(Bombay Stock
Exchange), NSE(National Stock Exchange), Metropolitan Stock Exchange or Kolkata
Stock Exchange. Many companies have also come out with buy back offer for their
shareholders to provide them liquidity option.
ADVANTAGES TO SHAREHOLDERS: De-recognized/ regional/ dash board companies
are more beneficial source of investment since these companies have to be
compulsorily come out with either buy back ie exit offer for investors or list
themselves on recognized national level exchanges. Thus
Investors have a good opportunities to be the part of valuable stock on such
exchanges and get a short term exit route. SEBI has been receiving representations seeking
clarifications on raising of further capital and the process of exit of ELCs
from the DB. Therefore, in the interest of the investors of such ELCs, it is
decided to extend the time to submit the
plan of action till June 30, 2017.
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