SQS India BFSI Limited - Updates

This is in reference to the notification from SEBI with reference number SEBI/HO/ISD/ISD/OW/2017/18183 and dated August 7, 2017 wherein 331 companies have been presumed to be shell companies.In this regard, the SEBI has passed the Final Order vide reference no. WTM/MPB/ISD/ 104 /2017 dated December 8, 2017.<BR> <BR> In the said order SEBI has stated in absence of prima facie evidence / suspicion of misrepresentation by the company, misuse of the books of accounts / funds of the company or violation of LODR Regulations, there is no reasonable ground to further verify the financials of the Company warranting an audit.<BR> <BR> The Whole Time Member of SEBI is therefore, of the considered view that the actions envisaged in SEBI's letter dated August 7, 2017 against SQS are liable to be revoked and ordered to revoke the actions envisaged in SEBI's letter dated August 07, 2017 and the consequential actions taken by Stock Exchanges against SQS India BFSI Limited. The copy of order is enclosed herewith.<BR>