BSE to suspend share trading of 3 non-compliant cos from November 16

Deutsche Bank cuts Sensex target to 28,000

While trading suspension will begin from November 16, the exchange also ordered freezing of the entire promoter shareholding of these companies


Leading stock exchange BSE will suspend three companies from next month for non-compliance with listing agreement clauses relating to corporate governance norms and shareholding disclosures.
The companies, Terruzzi Fercalx India Ltd, Alka Diamond Industries Ltd and Meuse Kara & Sungrace Mafatlal Ltd, have been given time till November 10 to comply, or be suspended.
While trading suspension will begin from November 16, the exchange also ordered freezing of the entire promoter shareholding of these companies from October 23 till further notice.
"Trading in securities of these companies will be suspended with effect from November 16, on account of non- compliance with Clauses 35 and or 49 of the Listing Agreement for two consecutive quarters -- March and June," BSE said in a circular.
In case any of these companies comply to the satisfaction of the exchange, with all the provisions of the listing agreement including payment of fines on or before November 10 2015, the trading in their securities "will not be suspended".
Otherwise, the suspension will continue till such time the companies comply including payment of fines.

ALSO READ THIS :  Sagar Diamonds Ltd.

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