BSE to suspend trading in 24 companies from November

BSE will suspend trading in the securities of 24 companies from November 27 as they failed to comply with certain listing requirements for two straight quarters.

Falcon Tyres Ltd, Aditya Forge Ltd, RCL Foods Ltd, Noida Medicare Centre Ltd, Silverton Spinners Ltd and Arvind Remedies Ltd are among the companies whose trading would be suspended from November 27.

Besides, the exchange has ordered freezing of the entire promoter shareholding of these companies from November 5 till further notice.

"Trading in securities of these companies will be suspended with effect from November 27, on account of non- compliance with Clauses 41 of the Listing Agreement for two consecutive quarters -- March and June," BSE said in a circular today.

The move is aimed at ensuring safety of investors in the capital market, it added.

Companies that comply with the norms under the listing as well as pay the fines on or before November 20 would not face trading suspension, the circular said.

The revocation of suspension would be subject to the companies further complying with the procedure and all extant norms prescribed for revocation of suspension.

Fifteen days after suspension, trading in the shares of non-compliant companies would be allowed on restricted basis or in 'Trade for Trade basis in Z group' only on the first trading day of every week for six months.