Leading stock exchange BSE will suspend trading in the securities of 33 companies from December 21 as they failed to comply with certain Listing requirements.
In case these firms comply with the norms by December 15, they would not face trading suspension.
Among the companies that will face suspension are Nissan Copper, Punjab Woolcombers, Minal Industries, Mahavir Impex, Pithampur Steels, Autoriders International, Victoria Enterprises and Fintech Communication.
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Besides, the exchange has ordered freezing of the entire promoter shareholding of these companies from today till further notice.
"Trading in securities of these (33) companies will be suspended with effect from December 21 on account of non- compliance with Clauses 41 of the Listing Agreement for two consecutive years i.E, March 2014 and March 2015", BSE said in a circular today.
Further, the exchange said the suspension will continue till such time these firms comply with the norms including payment of fines.
The exchange said that 15 days after suspension, trading in the shares of non-compliant companies would be allowed on restricted basis or in 'Trade for Trade basis in Z group' only on the first trading day of every week for six months.
(REOPENS DCM 41)
In a separate circular, NSE has also given more time to brokers to submit details of existing banks and demat accounts.
"Based on the representations received by the exchange, we wish to inform that due date for reporting the details has been extended to November 25, 2016. It may be noted that no further extension of timeline will be granted," the exchange said.
It also said that reporting of banks and demat details electronically is mandatory and in case of any non-compliance by a broker, appropriate disciplinary action may be initiated.
