BSE to Suspend Trading in 24 Companies From November 27th

BSE has decided to suspend trading in the securities of 24 companies from November 27 as they failed to comply with certain listing requirements for two straight quarters.

Besides, the exchange has ordered freezing of the entire promoter shareholding of these companies from November 5 till further notice.

"Trading in securities of these companies will be suspended with effect from November 27, on account of non- compliance with Clauses 41 of the Listing Agreement for two consecutive quarters -- March and June," BSE said in a circular today.

Companies that comply with the norms under the listing as well as pay the fines on or before November 20 would not face trading suspension, the circular said.

The revocation of suspension would be subject to the companies further complying with the procedure and all extant norms prescribed for revocation of suspension.

Fifteen days after suspension, trading in the shares of non-compliant companies would be allowed on restricted basis or in 'Trade for Trade basis in Z group' only on the first trading day of every week for six months.

Here is the notice as published on BSE site:

Notice No. 20151105-18

Pursuant to the provisions of Circular no. CIR/MRD/DSA/31/2013 dated September 30, 2013 issued by Securities and Exchange Board of India (SEBI) and Exchange Notice No. 20140117-20 dated January 17, 2014 with respect to Standard Operating Procedure (SOP) for suspension and revocation of equity shares of listed entities for non-compliance of certain clauses of the Listing Agreement, Trading members are requested to note that the following will be effected:

1)    Trading in securities of the undermentioned companies will be suspended w.e.f. November 27, 2015 (being 21 days from issue of this notice); on account of non-compliance with Clause 41 of the Listing Agreement and/or Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 for two consecutive quarters i.e., March 2015 and June 2015.

Sr. No.	Scrip Code	Company name
1	509527	Falcon Tyres Ltd
2	512279	N2N Technologies Ltd
3	517403	Sun Source India Ltd
4	522150	Aditya Forge Ltd
5	523670	Noida Medicare Centre Ltd
6	531118	Silverton Spinners Ltd
7	531650	Vax Housing Finance Corporation Ltd
8	531886	Scope Industries (India) Ltd.
9	532442	MW Unitexx Ltd
10	532824	VTX Industries Ltd
11	533079	Sand Plast (India) Ltd
12	537709	Shree Hanuman Sugar & Industries Ltd
13	523200	Classic Diamonds (India) Ltd
14	531823	Arvind Remedies Ltd
15	532347	Helios and Matheson Information Technology Ltd.
16	532739	Plethico Pharmaceuticals Ltd
17	533402	Innoventive Industries Ltd
18	538364	Birdhi Chand Pannalal Agencies Ltd.
19	512199	CORE Education & Technologies Ltd
20	533304	C. Mahendra Exports Ltd.
21	533266	Tecpro Systems Ltd.
22	506041	Mahesh Agriculture Implements & Steel Forge Ltd.
23	507528	Eastern Sugar & Industries Ltd.
24	530923	RCL Foods Limited

2)    Freezing of the entire promoter shareholding of the aforesaid companies wef November 05, 2015 till further notice.

Trading Members may further note that:

a)    In case, any of the aforesaid companies comply (to the satisfaction of the Exchange) with all the provisions of the Listing Agreement including payment of fines on or before November 20, 2015; trading in securities of the said companies will not be suspended.

b)    However, in case the aforesaid companies fail to comply with the provisions of the Listing Agreement, to the satisfaction of the Exchange on or beforeNovember 20, 2015; then :-

·         Trading in the securities of the companies would be suspended wef November 27, 2015 and the suspension will continue till such time the Company complies including payment of fines.

·         15 days after suspension has been effected, trading in the shares of non-compliant companies would be allowed on Trade for Trade basis in Z group only on the first trading day of every week for six months.

·         Revocation of suspension would be subject to the companies further complying with the procedure and all extant norms prescribed for revocation of suspension.

The following companies are non-compliant with Clauses 35 and/or Clause 49 and Clause 41 of the Listing Agreement and or/ Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 for consecutive quarters ending i.e., March 2015 and June 2015.

• If the said companies do not comply (including payment of fine) with both the Clauses 35 and/or Clause 49 of the Listing Agreement for both the quarters i.e., March 2015 and June 2015, the companies would be suspended as per the provisions of Notice No. 20151023-15.

• If the companies comply with Clauses 35 and/or Clause 49 of the Listing Agreement (including payment of fines) and are non- complaint for Clause 41 of the Listing Agreement and or/ Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 then the suspension date for the following companies would be November 27, 2015.

Sr. No.	Scrip code	Company name
1	522080	Terruzzi Fercalx India Limited
2	512253	Meuse Kara & Sungrace Mafatlal Ltd.

               

For further clarification on the above, you may please contact Mr. Sambhaji Solat on Tel No. 22728074 /Ms. Anshu Shrivastava on 22728534 or email at bse.revocation@bseindia.com.

Netra Sahani                                                                                     Abhijit Pai

Dy. General Manager                                                                       Asst. General Manager

November 05, 2015

click here to check the notice on BSE Site