BSE to suspend trading in 26 securities from Mar 21
Mumbai: Leading bourse BSE Wednesday said it will suspend trading in shares of 26 companies for their failure to comply with various provisions of the exchange's listing agreement.
These companies will be barred from trading with effect from March 21, this year.
Some of the companies facing suspension are -- Asian Films Production & Distribution, Blue Bird (India) Ltd, BMB Music & Magnetics, Chemcel Bio-Tech, Coral Hub, Essen Supplements India, Exelon Infrastructure, Futura Polyesters and Indtradeco Ltd.
The 26 firms have not fulfilled the BSE requirements for continuous listing till the quarter ended September 2012, the exchange said in a circular.
"Trading in securities of these 26 Companies will be suspended w.E.F. Thursday, March 21, 2013 (being 15 trading days from issue of notice); on account of non-compliance with the provisions of the Listing Agreement," BSE said.
As per BSE, if the companies comply with listing norms on or before March 13, trading in their securities would be suspended for five days.
However, if they fail to do so, the suspension would continue till such time the company complies with the procedure laid for revoking suspension, it added.
"...Suspension of trading in securities of a company will be revoked only if the company has complied with all the provisions of the Listing Agreement up to the latest quarter for which the compliances are required," BSE said.