A task force which was formed recently for the purpose, as per the directions from the Department of Company Affairs and the Sebi, has already identified four such companies against whom proceedings will be launched soon, RoC sources told The Financial Express.

These companies are Aditya Alkoloides, Aqua Dev India Ltd, Kamakshi Housing and Premior Aqua Firms. Out of the 830 odd companies listed on the Hyderabad Stock Exchange (HSE), there are about 450 companies which have their registered office located under RoC, Hyderabad jurisdiction. Going by the task force's action plans, in the preliminary phases the force will utilise the services of financial institutions, banks and chartered accountants who have filed the statutory papers on behalf of these companies on previous occasions. In its first meeting the task force decided totrace out at least 10 such companies from AP and initiate a financial evaluation of their accounts once traced. The RoC is the covenor of the task force while other members include Sebi's regional head and the executive director of HSE.

Once the task force is satisfied that a particular company has vanished, it would seek the services of local police to identify the promoters. The police will have to be involved to carry out the search and seizure, the sources said. According to sources in the HSE, the bourse has already prepared a list of about 100 companies who have not complied with the listing agreement which include non-payment of listing fees. The list has already been submitted to Sebi for further action, said the sources.