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BSE to suspend trading in 12 firms on non-compliance

This article was posted on Dec 14, 2010 and is filed under Market News

The Bombay Stock Exchange today said it has decided to suspend trading in 12 companies, including Vishal Exports, for varying periods with effect from January 13, 2011, on non-compliance with the Listing Agreement.

“… A company listed on BSE is required to comply with various clauses of the Listing Agreement, failing which trading in securities of such defaulting companies is liable for suspension,” the exchange said in a statement.

Apart from Vishal Exports, Ambalal Sarabhai, Bafna Spinning Mills, CMM Broadcasting Network, Computech Intl, Enso Secutrack, Indage Restaurants, Indo-Pacific Software, Invicta Meditek, Linkhouse Industries, NetVision Web Tech and Orind Exports, have failed to comply with various provisions of the Listing Agreement up to quarter ended June, 2010, it said.

If a company will be able to comply with all the provisions of the agreement on or before January 3, 2011, trading will be suspended for only five trading days, 2011, but if the company complies before January 28, the trading will be suspended for 30 days, the statement added.

It, however, said that in case the company will fail to comply with the provisions of the listing agreement on or before January 28, 2011, the suspension will continue till the company complies with the procedure prescribed for revoking suspension in a scrip.

source: Business Standard

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