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SEBI Extends Time Till March 31, 2017 For ELCs To Submit An Action Plan

SEBI Circular SEBI/HO/MRD/DSA/CIR/P/2017/5 dated January 05, 2017 to all recognised/Non-operational /Exited Stock Exchanges and all Exclusively Listed Companies in the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies.)

1. SEBI vide circular dated October 10, 2016 provided a period of three months to the ELCs on the DB to submit an action plan to list or to provide exit to shareholders to the designated stock exchanges.

2. In light of representation received seeking extension of time to submit plan of action, it is decided to extend the time till March 31, 2017. All other conditions as mentioned in the SEBI circular dated October 10, 2016 remain unchanged.

3. This circular is issued in exercise of powers conferred under Section 11 (1) and 11(2) (j) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. This circular is available on SEBI website at www.sebi.gov.in.

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