Click it and Unblock the Notifications
Citing non-compliance in respect of listing requirement relating to corporate governance, the country's oldest and leading bourse BSE has made a call to put six of the companies in the restricted trading segment with effect from August 27, 2018.
The exchange in a notice has ruled out that six firms will be transferred to 'Z' group with effect from August 27, 2018, due to non-compliances for two consecutive quarters - March 2018 and June 2018 - for the regulation 27(2) of LODR (Listing Obligations and Disclosure Requirements) Regulations.
The list includes names such as Winsome Diamonds and Jewellery, KGN Industries, HealthFore Technologies, KGN Enterprises, Shri Krishna Prasadam and Layla Textile and Traders
Additionally, BSE marked that few other companies are also non-complaint with respect to listing requirement and also form the part of 'Z' group scrips. These are ABG Shipyard, Shree Bhawani Paper Mills, Jyoti Structures, Todays Writing Instruments, James Hotels, Ramsarup Industries, Gitanjali Gems and Haryana Financial Corporation.
The concept of 'Z' group securities was introduced in the year 1999 and includes scrips which fail to comply with BSE's listing requirements and/or have failed to resolve investor complaints and/or have not made the required arrangements with the depositories - CDSL and NSDL - for dematerialisation of their securities.
"The trades in these scrips executed in 'Z' group will be settled on trade-for-trade basis," the exchange said. Under the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
Goodreturns.in
Sign in with Google