Criteria for Empanelment of Independent valuers for companies placed on the Dissemination Board (DB) of the Exchange.

Securities and Exchange Board of India (SEBI) had issued circular SEBI/HO/MRD/DSA/CIR/P/2016/110 dated October 10, 2016, prescribing the mechanism to deal with the Exclusively Listed Companies (ELCs) on the Dissemination Board (DB).
Further, SEBI vide its letter no. SEBI/HO/MRD/DSA/OW/P/34058/1 dated December 12, 2018 has advised NSE to place in its Dissemination Board, the companies listed on Calcutta Stock Exchange and vide its letter no. SEBI/HO/MRD/DSA/OW/P/7372/1 dated March 20, 2019 has clarified that the Circulars /guidelines issued by SEBI form time to time for Exclusively Listed Companies shall be applicable to companies transferred from Calcutta Stock Exchange to the Dissemination Board of NSE.
Based on the above SEBI Circular and clarifications NSE is designated Stock Exchange in respect of the Companies listed on the following Exchanges:
1. Ahmedabad Stock Exchange Limited
2. Madhya Pradesh Stock Exchange Limited
3. Ludhiana Stock Exchange Limited
4. Madras Stock Exchange Limited
5. Pune Stock Exchange Limited
6. U.P. Stock Exchange Limited
7. Calcutta Stock Exchange Limited
As per the above circular and clarification, SEBI has provided 2 options to companies on DB i.e. either to elevate themselves to be eligible to list on the Designated Stock Exchange or provide exit opportunities to the shareholders. In order to facilitate ELCs who have opted to provide exit to shareholders, SEBI has advised Designated Stock Exchange to empanel ‘Independent valuer’ for the valuation of the Companies on DB.

CLICK THE LINK BELOW FOR COMPLETE DETAILS