Most of the old companies shares which are Unlisted at present because of factors beyond the control of investors :-
(1 ) Many such shares were earlier Exclusively listed in Regional Stock Exchanges like Delhi Stock Exchange , Madras Stock Exchange and these stock exchanges have been closed without offering any meaningful relief to investors of such Exclusively listed shares.
(2) Managements of many such companies try to keep their companies officially listed but hidden as well ( like may be Frick India ) get their shares listed in Metropolitan Stock Exchange. There is no Equity trading in Metropolitan Stock Exchange . SEBI / Govt. should make Metropolitan Stock Exchange start Equity trading at once. Or else SEBI should not renew the Equity trading licence ( granted annually ) of Metropolitan Stock Exchange.
( 3 ) Same is the case with Calcutta Stock Exchange. SEBI / Govt. should declare , with immediate effect , Calcutta Stock Exchange as closed.
(4 ) In case , shares exclusively listed in Non operational Metropolitan Stock Exchange and Calcutta Stock Exchange are relisted in BSE / NSE or if Metropolitan and Calcutta Stock Exchanges are made , by SEBI / Govt , to start equity trading then shares .exclusively listed in these Exchanges ( like Dalmia Refractories of Dalma Bharat Group ) can easily double / triple from the rates currently quoting for them in the Unlisted Market.
( 5 ) Govt. is losing crores of rupees of GST / STT by allowing Metropolitan Stock Exchange and Calcutta Stock Exchange to remain Non Operational for Equity trading. Investors are suffering.
Officially such companies comply with Listing obligations while keeping these shares de facto Unlisted .
In their Annual Reports under the Heading Listing they would state , year after year , " Shares of YOUR Company are listed in Metropolitan Stock Exchange but there has been no trading in the year under review "
So when ever a hapless shareholder approaches such a Company for a desperate exit then the spokesperson of the Company would make such shareholders a very low offer .
The shareholder has no other option.
February 06, 2018
Metropolitan to SEBI -Share Trading Operational
- We are holders of shares like Frick India , Dalmia Refractories etc which are Exclusively listed in Metropolitan Stock Exchange.
Reply Filed to SEBI by Metropolitan Stock Exchange
SCORES Request No. SEBIP/MH18/0000261/1 has been Completed.
|Please find the below Details :|
|Nature Of Complaint:|
|Complaint Against:||METROPOLITAN STOCK EXCHANGE LIMITED previous name MCX Stock Exchange Ltd|
|Remarks:||Your complaint was taken up with MSEI. It is observed that the exchange provides for listing of scrips of corporates on satisfying certain criteria and facilitates a trading platform on which such scrips may be traded. Investors and traders buy / sell such scrips through their brokers who are trading members of the exchange. On any day, some scrips are traded and others are not. The exchange ensures that such trading is conducted in an orderly manner and in accordance with SEBI regulations / guidelines. In the same way, the exchange has facilitated trading In the scrips mentioned in the letter of Shri Ashwani Kumar Aggarwal. The absence / quantum of trading in a scrip is dependent on demand and supply in the market for the particular scrip.|
You may view status of your complaint online at https://www.scores.gov.in/
Thanks & Regards,