Wednesday, 28 June 2017

BSE to suspend trading in 11 companies for violating norms

Leading stock exchange BSE will suspend trading in the securities of as many as 11 companies from July 19 as they failed to comply with certain norms for two consecutive quarters.

In case they comply with the norms by July 13, they would not face trading suspension.

The firms that face suspension are Birla Transasia Carpets Ltd, Jay Energy & S Energies, Anil Ltd, Koa Tools India, Krishana Fabrics, Orbit Corporation, Rubber Products, Sancia Global Infraprojects, SM Energy Teknik & Electronics, Software Technology Group International and Pochiraju Industries.

The exchange has also ordered the freezing of the entire promoter shareholding of these companies from Tuesday, 27 till further notice.

Under Sebi's Depositories and Participants Regulation 55 A, every firm will have to submit the audit report, on a quarterly basis to the bourse, about the reconciliation of the total issued capital, listed capital, and capital held by depositories in dematerialised form and the details of changes in share capital during the quarter.

Further, the exchange said the suspension will continue till such time these firms comply with the norms.

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