BSE to suspend trading in securities of 15 Companies
Trading in securities of these 15 Companies will be suspended w.e.f. Wednesday, September 18, 2013
As per the provision of Securities Contracts (Regulation) Rules, 1957 and the Rules, Bye-laws and Regulations of the Exchange, a Company listed on BSE Limited is required to comply with various clauses of the Listing Agreement, failing which trading in securities of such defaulting Companies is liable for suspension.
Trading members are requested to take note that the following 15 Companies have failed to comply with various provisions of the Listing Agreement upto quarter ended March 2013.
Trading in securities of these 15 Companies will be suspended w.e.f. Wednesday, September 18, 2013 (being 15 trading days from issue of notice); on account of non-compliance with the provisions of the Listing Agreement.
In case, the Company complies (to the satisfaction of the Exchange) with all the provisions of the Listing Agreement on or before Tuesday, September 10, 2013; trading in securities of the company will be suspended for Five Trading Days i.e. upto Tuesday, September 24, 2013.
However, in case the Company fails to comply with the provisions of the Listing Agreement, to the satisfaction of the Exchange on or before Tuesday, September 10, 2013; the suspension will continue till such time the Company complies with the procedure prescribed for revoking suspension in a scrip and the Company complies with all extant norms for revocation of suspension laid out by the Exchange.
It may be noted that suspension of trading in securities of a Company will be revoked only if the Company has complied with all the provisions of the Listing Agreement upto the latest quarter for which the compliances are required.
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