New Delhi: Leading exchange BSE will impose trading restrictions on 161 companies from May 5 for their failure to pay the annual listing fee. Out of these companies, 140 are already facing trading restrictions for certain other regulatory non-compliance. Of the remaining 21, while 8 firms will be moved to ‘T’ group, 13 will be transferred to ‘XT’ group.
The firms being placed under ‘T’ group are W S Industries (India), Alps Industries, Bilpower, Madhucon Projects, Rei Agro, Software Technology Group Intl, Parabolic Drugs and Hanung Toys & Textiles.
Among the companies that will be moved to ‘XT’ group are Rathi Steel & Power, Magnum, Himalya International, Alchemist Corporation, Raymed Labs, Tricom Fruit Products, Infronics Systems and Indovation Technologies.
The ‘T’ group represents those securities which are settled on a trade-to-trade basis as a surveillance measure, while ‘XT’ group includes the securities that are exclusively listed or traded at BSE and settled on a trade-to-trade basis.
In a circular, BSE said that in spite of the repeated reminders and show cause notices issued for the non-payment of annual listing fees, the defaulting companies have failed to pay the arrears of annual listing fee to the exchange.
As per Sebi (Listing Obligations And Disclosure Requirements) Regulations, every listed company is required to pay annual listing fee to the exchange where its securities are listed. “If a company pays the arrears of annual listing fees prior to the start of trading in the trade-to-trade segment, name of the company will be removed from the final list of the defaulting companies,” the exchange said.
PTI