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Mumbai : BSE filed proceedings under the Insolvency and Bankruptcy Code (IBC) 2016 against seven listed companies for failing to pay the “Annual Listing Fees” (ALF) in spite of “advance intimation, reminders and grant of sufficient time in the past few years”.
The BSE has become the first stock exchange in the country to drag seven firms listed on its platform to National Company Law Tribunal (NCLT) for failure to pay annual listing fees (ALF) even after granting them sufficient time and sending several reminders in the past few years.
Mumbai: In a first, a stock exchange is taking firms that have failed to pay up dues to the bankruptcy court. BSE Ltd on Tuesday said it is taking seven companies to National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) for non-payment of annual listing fees.
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