National Stock Exchange (NSE) will suspend trading in the shares of DS Kulkarni Developers Limited, effective
from tomorrow, 20 March 2018, following a directive from the National Company
Law Tribunal (NCLT) in a case with regard to alleged diversion of funds.
Bombay Stock Exchange (BSE) has
already suspended trading in the shares of DS Kulkarni Developers Limited. The
BSE in its circular stated on Monday, 19 March 2017, that it was suspending trading
in the shares of DS Kulkarni Developers Limited, with immediate effect, for the
same reason.
The National Company Law Tribunal, in
an order dated March 13, had stated that by having cursory look into balance
sheet & profit and loss account of the Company, the figures are shown
soaring from year to year, but at the same time those figures are not in support
with ground realities.
In a circular today, National Stock Exchange
said it would suspend trading in the company's shares from March 21 pursuant to
the National Company Law Tribunal order.
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