Pursuant to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 (“Master Circular”) (Erstwhile SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22,2020), 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 November 18, 2024 (being 30 days from issue of this notice); on account of non-compliance with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for two consecutive quarters i.e. March 2024 & June 2024.
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SR. No
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Scrip
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Company Name
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1
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540715
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Sagar Diamonds 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 companies comply (to the satisfaction of the Exchange) with all the provisions of Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018 on or before November 12, 2024; trading in securities of the said companies will not be suspended.
b) However, in case the aforesaid companies fail to comply with the provisions of the Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018, to the satisfaction of the Exchange on or before November 12, 2024; then:-
· Trading in the securities of the companies would be suspended w.e.f. November 18, 2024, and the suspension will continue till such time the company complies.
· 15 days after suspension has been effected, trading in the shares of the non-compliant companies 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 Reena Raphel
Senior Manager Associate Manager
Listing Compliance Listing Compliance
October 16, 2024 |