NSE issues guidelines for companies under Corporate Insolvency Resolution Process
The Resolution Professional must now disclose the resolution approval immediately, within 30 minutes of the oral order, NSE said.
July 10, 2021 / 12:57 PM IST
The Exchange said it will highlight the impacted securities according to the Resolution Professional’s information (Image: Shutterstock)
The NSE has issued a set of guidelines for companies to follow under the Corporate Insolvency Resolution Process (CIRP), CNBC-TV18 reported,
As per this, the Resolution Professional must now disclose the resolution approval immediately, within 30 minutes of the oral order. Further, the Resolution Professional must also inform about impact of the resolution on existing shareholders of the listed securities.
The Exchange said it will accordingly highlight that security as per the Resolution Professional’s information and the list will also be made available on its website.
The NSE will provide an alert about the company being under the CIRP, at the time of order entry. Further, broking platforms shall be advised to provide the same alert to their front-end systems.
In case the resolution order is for delisting, the Exchange will suspend trading in the scrip.