NSE to delist Pyramid Saimira, 19 other cos from Sept 12

Top bourse NSE will delist 20 companies, including Pyramid Saimira Theatre, with effect from September 12 as these entities are in the process of winding up their businesses.

Rushabh Precision Bearings, Alpic Finance, Arihant Cotsyn, BIL Industries, B S Refrigerators, Patheja Forgings & Auto Parts Manufacturers, Soundcraft Industries, Wopolin Plastics and Vintage Cards & Creations are among the companies which would be delisted from the exchange platform next month.

Others include BST Ltd, CFL Capital Financial Services, Compudyne Winosystems, Cyberspace, DR Softech & Industries, DSJ Finance Corporation, Enkay Texofood Industries, Hanil Era Textiles, Snowcem India and Origin Agrostar.

"It is hereby notified that it has been decided to delist (withdraw the admission to dealings in) equity shares of the...companies with effect from September 12, 2016 as these companies are under liquidation," NSE said in a statement.

Earlier this month, NSE stated that 14 companies would be delisted from August 31 as they were under liquidation.

In April this year, NSE had named 80 companies for compulsory delisting as trading in their shares had been suspended over a long period of time.

The firms, including Pyramid Saimira Theatre, had been issued show-cause notices asking why their respective equity shares "should not be delisted from the exchange".

Under compulsory delisting, these firms would cease to be listed on the exchange and would move to the dissemination board of the exchange.

NSE as well as BSE have been making efforts to delist companies suspended over long period of time, while market regulator Sebi is also planning to push for delisting of over 4,200 listed firms whose shares are not being traded.