BSE to Suspend Trading in 24 Companies From November 27th

BSE to suspend trading in 24 companies from November


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





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9 comments

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Misbah Uddin
AUTHOR
November 8, 2015 at 1:38 PM delete

Can we well these scrips andd maje profits

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SauriN PateL
AUTHOR
November 8, 2015 at 2:41 PM delete

What wrong with kse??
Buy at 1100...can I avg or hold or shift to other??

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Saket Hawelia
AUTHOR
November 9, 2015 at 12:49 PM delete

dear sir, a lot of eminent analysts are predicting bad days for market ahead in lieu of poor earnings of Q2, with little hopes of revival in Q3 and Q4. what is ur take on it? do u see an impending crash?

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SauriN PateL
AUTHOR
November 9, 2015 at 7:49 PM delete

Not ans???? Why?? Also more than 24hr..

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November 9, 2015 at 11:20 PM delete

plzz type ur question again.......

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November 9, 2015 at 11:21 PM delete

broo results are on 12th let's wait for it ................... if all is well in the results then u may average it down and hold it or else u can consider other options right now everything is good in kse

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November 9, 2015 at 11:25 PM delete

when lot of eminent analysts are predicting bad days it means market are going to turn bullish when they are predicting 1 lakh nifty that is the time to get worried................. india's growth story is intact for now

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Kavitha Ks
AUTHOR
November 18, 2015 at 11:30 AM delete

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