Over 50 Cos Moved To BSE's Dissemination Board

"Trading Members are requested to note that the companies admitted to BSE Dissemination Board are not listed with BSE (are treated as unlisted companies)," BSE said.

"There will be no listing agreement executed by BSE with these companies," it added.

The exchange also said that there would be no monitoring of any compliance with respect to filings made by these firms and that information received from them would be disseminated on the DB platform.

Under the BSE dissemination board, brokers of the exchange would act as "point of contact" for registered client, for executing the bid/offers placed.

Under the mechanism, there is no matching of trades on the board and they are cleared and settled outside BSE/Indian Clearing Corporation.

Investors, on their part, also do not have any recourse to the investor grievance redressal mechanism, including arbitration and investor protection fund.

As per regulator Sebi's norms, firms listed exclusively on exiting or de-recognised Regional Stock Exchanges (RSEs) are required to seek listing on at least any other RSE that is not seeking de-recognition and exit.

However, those companies which fail to list on any other RSE are treated as unlisted entity and have to be moved to dissemination board.

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