SEBI vide Circular No. SEBI/HO/MRD/DSA/CIR/P/2017/27 on Monday, 27th March, 2017 stated that Exclusively Listed Companies (ELCs) of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB) were given 3 months time period to submit action plan to list or to provide exit to shareholders vide SEBI Circular dt. 10th October, 2016. Further vide Circular dated 5th January, 2017 SEBI has extended the said time limit till 31st March, 2017.
However, representations have been received by SEBI seeking clarifications on raising of further capital and the process of exit of ELCs from the DB. Hence, SEBI has further extended the time to submit the plan of action till 30th June, 2017. All other conditions as mentioned in the SEBI circular dated October 10, 2016 remain unchanged.
The said Circular of SEBI is available at the following link:SEBI Circular_27.03.2017_DisseminationBoard_TimeLimitExt.