Pledged holdings among suspended firms valued at over Rs 600 cr: BSE data

A suspended company is one in which the shares can no longer be bought or sold on the stock exchange

Many lenders appear to have advanced capital against shares that are now suspended, leaving them with no ability to encash their collateral.  Latest exchange data show that there are 743 suspended companies, and 217 firms have some amount of pledged shares, with a value of Rs 602.63 crore. 

A senior executive with a financial services group that has a lending division said suspended companies are a problem as collateral, since exit becomes extremely difficult. “You have ownership over the shares but you can’t sell...” said the person.

An executive director at another brokerage that also has a lending arm said that the