A few skeletons are likely to tumble out of the cupboard with the end of the country’s regional stock exchanges — among other things, in the form of what could be the largest-ever case of corporate disappearances in India.
Records and data from eleven regional exchanges reveals around 700 listed companies have likely vanished, without a trace of these entities at their registered addresses — many times more than the 87 currently identified as ‘vanishing companies’ in official records. The exchanges, too, have received no correspondence from these companies for a long time. According to investor association estimates, the total value of the ‘vanishing companies’ could be in excess of Rs 29,000 crore.
Records and data from eleven regional exchanges reveals around 700 listed companies have likely vanished, without a trace of these entities at their registered addresses — many times more than the 87 currently identified as ‘vanishing companies’ in official records. The exchanges, too, have received no correspondence from these companies for a long time. According to investor association estimates, the total value of the ‘vanishing companies’ could be in excess of Rs 29,000 crore.
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