Shares in Indian developers The Securities Appellate Tribunal , Pincon Spirit , Signet and others have dropped by up to 20% after a crackdown on shell companies. The move came after the Securities Appellate Tribunal (SAT) on Friday stayed the trading restrictions imposed on these companies, which figured in a list of 331 “suspected shell companies” referred by the government to SEBI. Parsvnath Developers recently upheld trading restrictions on the companies, which featured on a list of 57.35 "suspected shell companies" referred by the Indian government to The Securities Appellate Tribunal .
Shares in Indian developers The Securities Appellate Tribunal , Pincon Spirit , Signet and others have dropped by up to 20% after a crackdown on shell companies. Parsvnath Developers recently upheld trading restrictions on the companies, which featured on a list of 57.35 "suspected shell companies" referred by the Indian government to The Securities Appellate Tribunal .