The decision to this effect was taken by the governing board of the exchange at the meeting held on August 10. It should be recalled that about seven companies were suspended during April 1997, however, later resumed trading -- Amit International, Cox & Kings Travel, SVL Capital, ELF Trading & Chem, Dhanprayog Investments, Eastern International and Essar (India).

Interestingly, in the case of the sixteen stocks which were delisted from the exchange, BSE has decided to extend the date for accepting the bad delivery claims, up to December 31.

Betala Global Securities which was suspended in April 1996 would attract a close out rate of Rs 29, MaganIndustries was also suspended in January 1996 the close out rate is pegged at Rs 22.75, MJP Leasing was suspended in February 1996, close out rate at Rs 203, Shah Construction was suspended in December 1997 of which the close out has been pegged at Rs 164.

Presto Finance was, however, delisted as per the court winding up order in February 1997. The close out has been pegged at Rs 13.25, while Hitek Industries was delisted in February 1997 on account of non-payment of listing fees.

Other companies like Cobal Investment, Greenfield Trading, Incap Financial Services, Maha Chemicals, Synthiko Foils, Cherry Merchantile Co, Chirau Finance and VR Mathur Mass Communications were suspended way back in 1996 on account of non-compliance with the listing agreement of the exchange which caused a lot of inconvenience to small investors.

Interestingly, the exchange has also stated that in case of the resumption of trading in any of these sixteen stocks in future, the bad delivery shares introduced after the date ofsuch resumption would also be settled as per the normal procedure of settling bad deliveries.