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Delhi News

5 state-owned Chinese companies to delist from New York Stock Exchange



Five state-owned Chinese companies, including the country’s leading energy and chemical firm, have chosen to delist from the Stock Exchange (NYSE) by the end of August, the media reported.


In separate statements issued on Friday, Life Insurance, PetroChina, Sinopec, Aluminum Corporation of and Sinopec Shanghai Petrochemical said they had notified the NYSE and applied for “voluntary delisting”, reports CNN


The companies cited “low turnover in the US” and “high administrative burden and costs” as their reason for the departure.


China’s securities watchdog, the Securities Regulatory Commission, said on Friday that it is aware of the situation and that “it is normal for companies to list or delist from any market”.


“We will keep in touch with foreign regulatory institutions and protect the rights of corporations and investors together,” it said.


The news comes as the Securities and Exchange Commission increases its scrutiny of Chinese companies’ audits, CNN reported.


The commission can kick companies off the stock exchange if they fail to allow US watchdogs to inspect their financial audits for three straight years.


China has for years rejected US audits of its firms.


Chinese companies that are traded overseas are required to hold their audit papers in mainland China, where they cannot be examined by foreign agencies.


But in April, China’s securities watchdog proposed changing a decade-old rule that forbids Chinese firms from sharing sensitive data and financial information with overseas regulators, reports CNN.


The amendment could allow US regulators to inspect audit reports of Chinese companies listed in .


Nevertheless, companies like Alibaba are taking steps to prepare for a potential loss of direct access to the US capital market.


–IANS


san/ksk/


 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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This video helps you to understand the LIC(Life Insurance Corporation of India) Jeevan Lakshya (Table No. 933 ).this is one of the best life insurance policies of LIC, This policy is popularly known as kanyadan policy where a combination of these 2 policies is known as the Jeevan Sathi policy. This video is in very simple but effective language, it provides complete information about the policy, its eligibility cafeteria, Benefits, Riders, and Other Benefits with examples.

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Sahara India Pariwar was founded by Subrata Roy Sahara in 1978 Sahara group was termed by the Time magazine as ‘the second largest employer in India’ after the Indian Railways. The group operates more than 5,000 establishments across India with the employee strength around 1.2 million (both field and office) under the Sahara India umbrella.
Sahara India Real Estate Company and the Sahara Housing Investment Corporation are subsidiaries of the conglomerate. They buy and develop land for residential housing projects across India. The company has its projects spread in almost all over India. Sahara has a collaboration with Turner Construction, an American building company, in some of its projects.
Sahara India Pariwar announced the launch of Electric Vehicles under the brand name Sahara Evols in June 2019. The product line of Sahara Evols initially consists of motorbikes, scooters, e-rickshaws and 3-wheeler cargo vehicles, charging stations and EV batteries
Sahara India Pariwar (pariwar being Hindi for “family”) is an Indian conglomerate headquartered in Lucknow, Uttar Pradesh, India. The group operates business sectors such as finance, infrastructure & housing, real estate, sports, power, manufacturing, media & entertainment, health care, life insurance, educational institute, offline online. The group has been a major promoter of sports in India and was the title sponsor of the Indian national cricket team among many other sports.

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Sahara India Pariwar was founded by Subrata Roy Sahara in 1978 Sahara group was termed by the Time magazine as ‘the second largest employer in India’ after the Indian Railways. The group operates more than 5,000 establishments across India with the employee strength around 1.2 million (both field and office) under the Sahara India umbrella.
Sahara India Real Estate Company and the Sahara Housing Investment Corporation are subsidiaries of the conglomerate. They buy and develop land for residential housing projects across India. The company has its projects spread in almost all over India. Sahara has a collaboration with Turner Construction, an American building company, in some of its projects.
Sahara India Pariwar announced the launch of Electric Vehicles under the brand name Sahara Evols in June 2019. The product line of Sahara Evols initially consists of motorbikes, scooters, e-rickshaws and 3-wheeler cargo vehicles, charging stations and EV batteries
Sahara India Pariwar (pariwar being Hindi for “family”) is an Indian conglomerate headquartered in Lucknow, Uttar Pradesh, India. The group operates business sectors such as finance, infrastructure & housing, real estate, sports, power, manufacturing, media & entertainment, health care, life insurance, educational institute, offline online. The group has been a major promoter of sports in India and was the title sponsor of the Indian national cricket team among many other sports.
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SaharaIndia SEBI Court Case Latest Updates for Investors & Policy Bond Holders in Hindi #saharaindia



Sahara India Pariwar was founded by Subrata Roy Sahara in 1978 Sahara group was termed by the Time magazine as ‘the second largest employer in India’ after the Indian Railways. The group operates more than 5,000 establishments across India with the employee strength around 1.2 million (both field and office) under the Sahara India umbrella.
Sahara India Real Estate Company and the Sahara Housing Investment Corporation are subsidiaries of the conglomerate. They buy and develop land for residential housing projects across India. The company has its projects spread in almost all over India. Sahara has a collaboration with Turner Construction, an American building company, in some of its projects.
Sahara India Pariwar announced the launch of Electric Vehicles under the brand name Sahara Evols in June 2019. The product line of Sahara Evols initially consists of motorbikes, scooters, e-rickshaws and 3-wheeler cargo vehicles, charging stations and EV batteries
Sahara India Pariwar (pariwar being Hindi for “family”) is an Indian conglomerate headquartered in Lucknow, Uttar Pradesh, India. The group operates business sectors such as finance, infrastructure & housing, real estate, sports, power, manufacturing, media & entertainment, health care, life insurance, educational institute, offline online. The group has been a major promoter of sports in India and was the title sponsor of the Indian national cricket team among many other sports.

#What is the news about Sahara India?
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#SaharaIndia SEBI Court Case Latest Updates for Investors & Policy Bond Holders in Hindi #saharaindia
#Sahara chief Subroto Roy likely to appear before Patna HC on Thursday.
#Defending Sebi on Saradha scam.
#Sebi cancels Sahara India Financial Corp’s registration as sub-broker.
#SFIO searches Sahara’s office in Lucknow, probe against group widens.
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