 BSE to suspend 4 companies for non-compliance of clause 16Published on Mon, Oct 09, 2006 at 17:57 | Source : Moneycontrol.com Updated at Mon, Oct 09, 2006 at 19:35 21 Investors following Prism Finance. Share this News with them.
As per the provisions of Securities Contracts (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 securities of such defaulting companies is liable for suspension. Accordingly, following 4 (FOUR) companies have failed to comply with provisions of clause 16 of the Listing Agreement for the year 2005.
Consequently, as per the provisions of the Securities Contracts (Regulation) Rules, 1956 and the Rules, Bye-laws and Regulations of the Exchange, trading in securities of the above 4 (FOUR) companies will be suspended for the period of FIVE trading days from 30th October 2006 to 3rd November 2006, on account of non-compliance with the provisions of clause 16 of the Listing Agreement. The suspension of trading in securities of companies will be revoked on 6th November 2006. Sourced From: BSE India Ltd
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