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BSE to move 12 cos to restricted trading segment from Dec 15

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Press Trust of India New Delhi
Last Updated : Dec 07 2016 | 7:07 PM IST
Leading bourse BSE will shift scrips of 12 firms to the restricted trading category from December 15 for not complying with listing obligations and disclosure norms.
In a circular, BSE said it would shift 12 scrips to the 'Z' group, wherein their scrips would be settled on trade- for-trade basis.
Under the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
The stocks to be moved to 'Z' group include Aadi Industries, Gold Rock Investments, Kanika Infotech, Kansal Fibres, Kohinoor Techno Engineers, Mukesh Strips, Omnitech InfoSolutions, Paras Petrofils, SB&T International, SGN Telecoms, Suryodaya Investment & Trading Company and Tej Infoways.
"The scrips will be transferred to 'Z' group with effect from December 15, 2016, due to non-compliances for two consecutive years i.E. March 2015 and March 2016 for the Regulation 34 of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015," the exchange noted.
Regulation 34 pertains to submission of the annual report to the stock exchanges within the stipulated period.
The 'Z' group includes companies which have failed to comply with the listing requirements and/or have failed to resolve investor complaints and/or have not made the required arrangements with the depositories - CDSL and NSDL - for dematerialisation of their securities.

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First Published: Dec 07 2016 | 7:07 PM IST

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