Leading stock exchange BSE will suspend trading in securities of 5 companies from September 8, as they failed to comply with certain listing regulations.
In case the firms comply with the norms by September 2, they would not face trading suspension.
The firms that face suspension are Indiaco Ventures, Bala Techno Industries, Kemrock Industries and Exports, Le Waterina Resorts & Hotels and Softech Infinium Solutions.
The exchange has also ordered freezing of the entire promoter shareholding of these companies from today till further notice.
"Trading in securities of the undermentioned companies will be suspended with effect from September 8 (being 21 days from issue of this notice); on account of non-compliance with Regulation 33 of Sebi (Listing Obligations and Disclosure Requirements) Regulations for two consecutive quarters December 2015 and March 2016," BSE said in a circular.
The Regulation 33 pertains to submission of financial results.
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.
"Revocation of suspension would be subject to the companies further complying with the procedure and all extant norms prescribed for revocation of suspension," it added.
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