Mandatory corporate governance rules have not stopped the management of listed companies, public-private partnerships or even first-line regulators from doing what they please.
Concunsmart Shares and Stock Brokers Pvt Ltd has become the 31st broker since May 2019, to be expelled by the National Stock Exchange for non-adherence to regulatory provisions.
Recently, a Moneylife reader wrote to us highlighting how several brokers are rejecting registrations on the Central Depository Services Ltd (CDSL)’s easiest facility to move shares between demat accounts.
These stock brokers have been declared as defaulters for non-compliance with the regulatory provisions of the bourse. In addition, they have been expelled from the membership of the exchange.