BSE to suspend trading in securities of nine companies

Firms to be barred from trading with effect from 30 Apr following their failure to comply with provisions of the listing agreement


As per the BSE, if the companies comply with listing norms on or before 18 April, trading in their securities would be suspended for five days up to 7 May.Photo: Mint

Mumbai: The BSE has said it will suspend trading in securities of nine companies for their failure to comply with various provisions of the listing agreement. These companies will be barred from trading with effect from 30 April.

The nine companies facing suspension are—GCV Services Ltd, Indo-Pacific Software and Entertainment Ltd, IOL Netcom Ltd, Jai Mata Glass Ltd, Mahaan Foods Ltd, Midfield Industries Ltd, Priyadarshini Spinning Mills Ltd, Regency Trust Ltd and Suraj Industries Ltd. These firms have not fulfilled the BSE requirements for continuous listing till the quarter ended December 2012, BSE said in a statement.

 

            “Trading in securities of these nine companies will be suspended with effect from Tuesday, 30 April (being 15 trading days from issue of notice); on account of non- compliance with the provisions of the listing agreement,” it said.

As per the stock exchange, if the companies comply with listing norms on or before 18 April, trading in their securities would be suspended for five days up to 7 May.

However, if they fail to do so, the suspension would continue till such time the company complies with the procedure laid for revoking suspension, it added. “...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 up to the latest quarter for which the compliances are required,” BSE said.

 

TOUHID HUSSAIN

PGDM 2ND SEM