BSE to suspend 8 companies for non-compliance to listing norms

Leading bourse BSE will suspend trading in the shares of eight companies from July 29 as they have failed to comply with the listing regulations for two straight quarters.

The exchange has frozen the entire promoter shareholding of these entities from Thursday onwards till further notice.

Trading of Gangotri Iron & Steel Company, Gupta Synthetics, MCS, Niraj Cement Structurals, Minolta Finance, Softech Infinium Solutions, Unimin India and Zylog Systems would be suspended from July 29, BSE said in a circular.

These companies were found to be non-compliant in December 2015 and March 2016 quarters. They did not comply with the provisions of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The suspension would continue till the companies are in compliance with Sebi norms. Fifteen days after suspension, restricted trading would be allowed in these scrips.

"Revocation of suspension would be subject to the companies further complying with the procedure and all extant norms prescribed for revocation of suspension," BSE said in the circular issued on Thursday.

In case, they comply with the norms, including payment of fines, by July 25, then there would no suspension of trading, it added.  RAM ADI