A LISTED regularly traded COMPANY ask for refund of listing fee saying it is an unlisted company and henceforth will not comply with sebi regulations !
what bse and sebi are reduced to ? toothless tigers ! a company which is listed and traded is threatening rather successfully carried out the threat that it will not comply with sebi norms and is an unlisted company !!!
I don’t think they are threatening. I think it will got through the due legal process. They have served an initmation after a legal opinion to BSE and I hope BSE will take it to it’s legal wing and proceed accordingly to law. I don’t find anything unsual. By the way not amusing or unsual in legal sense. I think it’s perfectly normal.
I hold few shares and this matter is going on since years . the company just want to d list at a fixed price without following due process of RBB and Bse unable to do anything since years except not approving the record date. promoters continue to hold above maximum permitted 75% thus volumes are negligible and market price is and surely can not move beyond what company has agreed to offer by way of fixed price d listing.
it is in June 2018 the company wrote that it will not comply with sebi regulation of listing as it is an unlisted company ! no visible action by bse/sebi .
all the above are unprecedented by a listed company in this sebi era !