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BSE to suspend trading in securities of 22 companies for non-compliances of various clauses of the Listing Agreement

February 7th, 2008

As per the provision of Securities Contract (Regulation) Rules, 1956 and the Rules, Bye-laws and Regulations of the Exchange, a Company listed on Bombay Stock Exchange Limited is required to comply with various clauses of the Listing Agreement, failing which trading in securities of such defaulting companies is liable for suspension.

Accordingly, despite giving various reminders and subsequent show-cause notices, 22 companies, as mentioned in the list enclosed as Annexure 1, have failed to comply with various provisions of the Listing Agreement upto quarter ended June, 2007.

Consequently, trading in securities of these 22 companies listed on Bombay Stock Exchange Limited will be suspended w.e.f. Monday, March 10, 2008, on account of non-compliance with the provisions of the Listing Agreement, for the following period(s) -
(i)    in case, the company complies (to the satisfaction of the Exchange) with all the provisions of the Listing Agreement on or before Thursday, February 28, 2008, trading in securities of the company will be suspended for 5 days i.e. upto Friday, March 14, 2008.
(ii)    in case a company complies (to the satisfaction of the Exchange), with all the provisions of the Listing Agreement on or before Wednesday, March 26, 2008, the trading in securities of a company will be suspended for 30 days i.e. upto Wednesday, April 09, 2008.
(iii)     however, in case the company fails to comply with the provisions of the Listing Agreement, to the satisfaction of the Exchange on or before Wednesday, March 26, 2008, the suspension will continue till such time the Company complies with the procedure prescribed for revoking suspension in a scrip.

Suspension of trading in securities of a company will be revoked only if the company complies with all the provisions of the Listing Agreement upto the latest quarter for which the compliances is required.

Kalyan S. Bose
Head – Corporate Affairs

February 07, 2008

Encl: as above

ANNEXURE 1

Companies that have not complied with the respective clauses

Sr.No.    Scripcode    Name of the company
1    502700    Arunoday Mills Ltd
2    500025    Assambrook Ltd
3    509499    Centron Industrial Alliance Ltd
4    501270    Chankya Investments Ltd
5    517391    Gamma Infoway Exalt Ltd
6    501111    Gold Rock Investments Ltd
7    531387    Hasti Finance Ltd
8    532047    K C Bokadia Films Ltd
9    506991    Noble Explochem Ltd
10    514028    Rajkamal Synthetics Ltd
11    532055    Rashel Agrotech Ltd
12    514280    Sanrhea Technical Textiles Ltd
13    522279    Satellite Engineering Ltd
14    511144    Saya Housing Finance Company Ltd
15    514209    Shamken Cotsyn Ltd
16    514152    Shamken Multifab Ltd
17    500386    Shamken Spinners Ltd
18    513548    Sharda Ispat Ltd
19    515003    Spartek Ceramics India Ltd
20    503297    Super Syncotex India Ltd
21    531418    Systel Infotech Ltd
22    517429    VJIL Consulting Ltd

Entry Filed under: Equity Markets, BSE