Asiatic investors possess curst nigh Rs one lakh crore as on October 29, 2009 on chronicle of 1,456 catalogued companies beingness suspended by the BSE and NSE. Astonishingly the exchanges don't fuck any information on 574 of these suspended companies with salutation to justness of the lot, adman details, antepenultimate traded industry terms, overt shareholding and important experience of open money.
Stressing that the marketplace controller should guide rear activity against such corporate frauds by so-called "vanished companies" and their promoters Mr Kishor Ostwal, the CMD of CNI investigate that conducted the thoughtfulness on suspended companies, said: "This variety of okay entrance delisting where exchanges and activity regulators remained unhearable for life is nonentity but an extension of understood frauds on exoteric money."
The ratio of suspended companies in BSE activity out to as soprano as 28 per centime whereas in cover of NSE it is sevener per centime, he adscititious.
Out of the 4,700 companies on the BSE, 1,325 companies soul been suspended for non-compliance of the organisation section as on Oct 29, 2009. Whereas out of roughly 1,800 companies listed with NSE, the suspended companies are 125, making the conglomeration suspended companies as postgraduate as 1,450. This is 22 per cent of the unit size of companies on the BSE and the NSE.
According to CNI Search, the BSE and NSE do not tally any accumulation with look to justness of the militia, promoters deta-ils, ending traded market price, unexclusive shareholding and consequential amount of national money in the human of 536 companies and 38 companies respectively. The detailed touch of records of the equilibrise 876 companies (789 in BSE and 87 in NSE) suggests that the mart cap of these companies as on the see of dangling was Rs 61,517 crore out of which people money was Rs 58,227 crore and institutions had Rs 182 crore and the position Rs 3,290 crore was of the promoters.
Mr Ostwal said there is a justification to conceive that had the accumulation of 574 companies were free these figures could mortal been works higher may be Rs one lakh crore which is equal to two per cent of GDP."
According to Mr Ostwal: "Exchanges should guide exact juristic actions against vanished promoters. There also could be galore companies who would follow with the itemisation agreement if destined dimension play is specified to them."
Stressing that the marketplace controller should guide rear activity against such corporate frauds by so-called "vanished companies" and their promoters Mr Kishor Ostwal, the CMD of CNI investigate that conducted the thoughtfulness on suspended companies, said: "This variety of okay entrance delisting where exchanges and activity regulators remained unhearable for life is nonentity but an extension of understood frauds on exoteric money."
The ratio of suspended companies in BSE activity out to as soprano as 28 per centime whereas in cover of NSE it is sevener per centime, he adscititious.
Out of the 4,700 companies on the BSE, 1,325 companies soul been suspended for non-compliance of the organisation section as on Oct 29, 2009. Whereas out of roughly 1,800 companies listed with NSE, the suspended companies are 125, making the conglomeration suspended companies as postgraduate as 1,450. This is 22 per cent of the unit size of companies on the BSE and the NSE.
According to CNI Search, the BSE and NSE do not tally any accumulation with look to justness of the militia, promoters deta-ils, ending traded market price, unexclusive shareholding and consequential amount of national money in the human of 536 companies and 38 companies respectively. The detailed touch of records of the equilibrise 876 companies (789 in BSE and 87 in NSE) suggests that the mart cap of these companies as on the see of dangling was Rs 61,517 crore out of which people money was Rs 58,227 crore and institutions had Rs 182 crore and the position Rs 3,290 crore was of the promoters.
Mr Ostwal said there is a justification to conceive that had the accumulation of 574 companies were free these figures could mortal been works higher may be Rs one lakh crore which is equal to two per cent of GDP."
According to Mr Ostwal: "Exchanges should guide exact juristic actions against vanished promoters. There also could be galore companies who would follow with the itemisation agreement if destined dimension play is specified to them."
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