Latest Answer: Hi and good morning!!!!!
And as per the SEBI guidelines, firms issued shares to more than 50 people, it qualified as a public issue that requires compulsory listing on recognised stock exchanges. Because of the violation of the rule, the companies and their directors have been banned from the securities market till the expiry of the 4 yrs. from the date of completion of refunds to investors. The orders will come into force with immediate effect.
