Pursuant to the provisions of Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020 (erstwhile SEBI 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 September 29, 2023 (being 30 days from issue of this notice); on account of non-compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e. December 2022 & March 2023:
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Sr. No.
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Scrip Code
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Company Name
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1
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530777
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Infra Industries Ltd
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2
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539410
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Muzali Arts Ltd
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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 shall remain frozen during the period of suspension.
Trading Members may further note that:
a) In case, the aforesaid company complies (to the satisfaction of the Exchange) with all the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on or before September 26, 2023; trading in securities of the said company will not be suspended.
b) However, in case the aforesaid company fails to comply with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the satisfaction of the Exchange on or before September 26, 2023; then:-
· Trading in the securities of the company would be suspended w.e.f. September 29, 2023, 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 company 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.
For further clarification on the above, please email on bse.soplodr@bseindia.com
Sambhaji Solat Sonali Kurhade
Manager Deputy Manager
Listing Compliance Listing Compliance
August 29, 2023 |