New Delhi : The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will suspend trading in shares of as many as nine firms, including banking fraud accused Mehul Choksi’s Gitanjali Gems, from September 10 for not complying with listing norms pertaining to submission of financial results.
However, if any company complies with the provisions of the LODR (Listing Obligations and Disclosure Requirements) Regulations on or before the date prescribed by the exchanges, the trading in its security will not be suspended, according to separate communications dated August 17 from the exchanges.
In case of the BSE, the date is September 4, while for the NSE, it is September 5.
While both the exchanges will together suspend Gitanjali Gems, Amtek Auto, Easun Reyrolle and Panoramic Universal, the BSE will suspend Thambbi Modern Spinning Mills, Indo Pacific Projects, Haryana Financial Corporation, Noble Polymers and Samruddhi Realty as well. Trading in securities of the nine companies will be suspended from September 10, 2018 on account of non-compliance with Regulation 33 of LODR Regulations for two consecutive quarters — December 2017 and March 2018, the BSE said in a notice.
With regard to Samruddhi Realty and Noble Polymers, the BSE said that both the firms have submitted the financial results but “not paid the applicable fines”.