Spice Infotainment Ltd. has a subsidiary named IO System Ltd. which is a BSE Listed Company. Spice Info has 96.45% holding in IO System leaving only 3.55% public shareholding. IO System passed a members'resolution to delist the company so as to offer exit route to the minority shareholders but it has not carried out the implemention of resolution. Minority shareholders have been left in a lurch. Dr. B K Modi group has been cheating the investors quite frequently. Even it is not going ahead with the dematerialisation of shares so as to offer liquidity in the market. SEBI and BSE should initiate punitive action immediately against the Dr. B K Modi Group
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