Sebi working to delist companies with no economic activity: Chairman
The Securities and Exchange Board of India (SEBI) is working towards removing companies with no economic activity from the stock exchanges, as their continued presence in the listed space poses a potential risk to investors, a top official said. There are a number of listed companies with no economic activity, SEBI chairman Tuhin Kanta Pandey said. "They pose a potential danger to investors, and therefore, it is necessary to remove them from the listed space. We are making efforts towards their delisting," Pandey said here on Saturday during a programme. From the perspective of market integrity, it is important to address the presence of such companies, as their continued listing could expose an increasing number of investors to potential risks through social media groups, he said. These stocks are used in "pump and dump operations" by some manipulators, the SEBI chairman said. He said SEBI was using AI techniques to track and scrutinise such accounts, along with numerous other ..
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