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Market Commentary
Delhi Stock Exchange extends Amnesty Scheme till June, 2009
Posted On : 2009-05-11 09:49:58( TIMEZONE : IST )
Mumbai, May 11, 2009: Delhi Stock Exchange (DSE), the second largest stock exchange in India in terms of listed scrips, has announced the extension of its amnesty scheme. The amnesty scheme, which is aimed at reviving the inactive scrips, will also help the companies to waive off full amount of reinstatement fees along with waiving of condonation fees for non-publication or filing of various notices and quarterly results, and waiving of processing fees.
The Amnesty scheme, launched in March 09, will help the companies to waive off 25% of total listing fees outstanding for a period up to five years and 40% on dues outstanding for the period over and above five years. The scheme, which was to close on 30th April, 2009, has been extended to 30th June, 2009.
DSE, which is scheduled to start its operations shortly, is inviting the inactive listed companies at the exchange to take advantage of the amnesty scheme and revive their operations in the trading of their securities. The reviving of the scrips will enable the companies to trade in the state of the art Delhi Online Trading System (DOTS) which has been developed in association with its business and technology partner Financial Technologies (India) Limited (FTIL).
Speaking on the development, Mr H S Siddhu, Executive Director, DSE said, "We have received fairly good response from the listed companies which have been inactive. As we are planning to re-start our operation soon, we have been trying to rope in all the listed companies with DSE. This scheme has given the companies an opportunity to make them eligible to trade in our state of the art Delhi Online Trading System (DOTS) and trade."
DSE board has approved the extension of the amnesty scheme in the meeting held at DSE office last week. The board has taken the decision to extend the scheme viewing the encouraging response from several listed companies and the increasing number of applicants who want to avail this scheme.