BSE to suspend trading in securities of 8 companies for non-compliances of various clauses of the Listing Agreement
As per the provision of Securities Contract (Regulation) Rules, 1957 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, following 8 companies, have failed to comply with various provisions of the Listing Agreement upto quarter ended September, 2009.
||Hytone Texstyles Ltd
||Mukat Pipes Ltd
||ORG Informatics Ltd
||Parsoli Corporation Ltd
||Rishab Financial Services Ltd
||Shamrock Industrial Company Ltd
||Typhoon Holdings Ltd
||Voltaire Leasing & Finance Ltd
Consequently, trading in securities of these 8 companies will be suspended w.e.f. Monday, July 19, 2010; 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 Friday, July 9, 2010; trading in securities of the company will be suspended for 5 days i.e. upto Friday, July 23, 2010.
(ii) in case a company complies (to the satisfaction of the Exchange), with all the provisions of the Listing Agreement on or before Tuesday, August 3, 2010; the trading in securities of a company will be suspended for 30 days i.e. upto Tuesday, August 17, 2010.
(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 Tuesday, August 3, 2010; the suspension will continue till such time the Company complies with the procedure prescribed for revoking suspension in a scrip.