Leading stock exchange NSE has decided to delist Vijay Mallya-promoted Kingfisher Airlines and Plethico Pharmaceuticals and 16 other companies from May 30. This comes after BSE delisted over 200 companies from May 11 as trading in their shares remained suspended for over six months.
The decision comes at a time when authorities are clamping down on shell companies - listed as well as unlisted - for being allegedly used as conduits for illicit fund flows.
In August, markets regulator Sebi had directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 2 lakh firms that have not been carrying out business activities for long.
In a latest circular, National Stock Exchange (NSE) said it has "decided to delist (withdraw the admission to dealings in) the equity shares of companies with effect from May 30, 2018 which have been compulsorily delisted by BSE Ltd.".
