Pursuant to the provisions of Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020 (erstwhile Circular no. SEBI/HO/CFD/CMD/CIR/P/2018/77 dated May 3, 2018) issued by Securities and Exchange Board of India (SEBI) with respect to Standard Operating Procedure (SOP) for suspension and revocation of equity shares of listed entities for non-compliance with provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Trading members are requested to note that the following will be effected: 

1)    Trading in securities of the undermentioned companies will be suspended w.e.f November 20, 2020 (being 30 days from issue of this notice); on account of non-compliance with Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e., March 2020 & June 2020. 

#Kindly also refer to the Exchange notice no. 20201014-34 dated October 14, 2020.

 * Kindly also refer to the Exchange notice no. 20200929-58 dated September 29, 2020. 

2)    Freezing of the entire shareholding of the promoter in the noncompliant listed entity as well as all other securities held in the demat account(s) of the promoter w.e.f October 20, 2020 till further notice. 

Trading Members may further note that: 

a)    In case, the aforesaid companies comply (to the satisfaction of the Exchange) with all the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on or before November 17, 2020; trading in securities of the said companies will not be suspended. 

b)    However, in case the aforesaid companies fail to comply with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the satisfaction of the Exchange on or before November 17, 2020; then:- 

·     Trading in the securities of the companies would be suspended w.e.f. November 20, 2020, and the suspension will continue till such time the company complies and pays the fines. 

·       15 days after suspension has been effected, trading in the shares of the non-compliant companies would be allowed on 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 company further complying with the procedure and all extant norms prescribed for revocation of suspension. 

It may be noted that the following companies are also non-compliant with Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e. March 2020 & June 2020; however, these companies have been suspended vide Exchange notice no. 20200303-40 dated March 3, 2020. 

  ** Kindly also refer to the Exchange notice no. 20200929-58 dated September 29, 2020. 

For further clarification on the above, please email on bse.soplodr@bseindia.com

Sambhaji Solat                                                                       Manish Raval

Manager                                                                                  Deputy Manager

Listing Compliance                                                                 Listing Compliance

October 20, 2020