INSUBCONTINENT EXCLUSIVE:
Leading stock exchange BSE will suspend trading in shares of as many as 16 firms, including Manpasand Beverages and Binani Industries, from
November 4 for not complying with listing norms pertaining to submission of quarterly financial results, among others
However, if any company complies with the provisions of listing norms on or before October 31, trading in its securities will not be
suspended, BSE said in a circular
8K Miles Software Services, Atlas Cycles (Haryana) Ltd, Dion Global Solutions, Dolphin Offshore Enterprises (India) Ltd, High Ground
Enterprise, JJ Exporters, Marg Ltd, Mayur Leather Products, Rathi Graphic Technologies, Sang Froid Labs (India) Ltd, Supreme Infrastructure
India, Cosboard Industries, NR International and Real Growth Commercial Enterprises are the companies facing suspension
BSE said that the companies have not submitted the financial results for March and June quarter and/or not paid the fine amount levied for
Consequently, trading in securities of the companies will be suspended with effect from November 4 on account of "non-compliance with
Regulation 33 of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters -- March 2019 and
"Trading in the securities of the companies would be suspended with effect from November 4, 2019, and the suspension will continue till
such time the company complies including payment of fines," it added
Regulation 33 pertains to submission of financial results
With regard to Cosboard Industries, NR International and Real Growth Commercial Enterprises, BSE said these companies have submitted the
financial results but "not paid the applicable fines"
Also, the entire promoter shareholding of the firms have been frozen from October 11 till further notice, the exchange said
In a separate notice, NSE also said it will suspend trading in seven companies, including Binani Industries and Manpasand Beverages, from
November 4 for not submitting financial results for March and June quarters.