As per the provision of Securities Contract (Regulation) Rules, 1956 and the Rules, Bye-laws and Regulations of the Exchange, a Company listed on Bombay Stock Exchange Limited is required to comply with various clauses of the Listing Agreement, failing which trading in securities of such defaulting companies is liable for suspension.

Accordingly, despite giving various reminders and subsequent show-cause notices, 22 companies, as mentioned in the list enclosed as Annexure 1, have failed to comply with various provisions of the Listing Agreement upto quarter ended June, 2007.

Consequently, trading in securities of these 22 companies listed on Bombay Stock Exchange Limited will be suspended w.e.f. Monday, March 10, 2008, on account of non-compliance with the provisions of the Listing Agreement, for the following period(s) –

(i) in case, the company complies (to the satisfaction of the Exchange) with all the provisions of the Listing Agreement on or before Thursday, February 28, 2008, trading in securities of the company will be suspended for 5 days i.e. upto Friday, March 14, 2008.

(ii) in case a company complies (to the satisfaction of the Exchange), with all the provisions of the Listing Agreement on or before Wednesday, March 26, 2008, the trading in securities of a company will be suspended for 30 days i.e. upto Wednesday, April 09, 2008.

(iii) however, in case the company fails to comply with the provisions of the Listing Agreement, to the satisfaction of the Exchange on or before Wednesday, March 26, 2008, the suspension will continue till such time the Company complies with the procedure prescribed for revoking suspension in a scrip.

Suspension of trading in securities of a company will be revoked only if the company complies with all the provisions of the Listing Agreement upto the latest quarter for which the compliances is required.
Sourced From: BSE Ltd

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