BSE-Revocation of suspension
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Revocation of Suspension

Norms for Revocation of Suspension

Sr.No. Particulars Norms
1 Compliance wrt capital issued and listed. No difference between issued and listed capital. ( If such a difference exists then the listing formalities for the said capital should be completed and listing approval obtained prior to submission of revocation application).
2 Number of Quarters for which compliance would be verified Four quarters
3 Clauses to be verified for compliance
  • Clause 15/16 -Book Closure / Record Date
  • Clause 31a - Annual Report
  • Clause 35 - Shareholding Pattern
  • Clause 41 - Quarterly Results
  • Clause 47 - Comp. Certificate, Appt, of Comp. Officer, RTA & Common Agency
  • Clause 49 - Corporate Governance
  • Reconciliation of Share Capital Audit Report
  • Clause 54 Company should have its own website
4 Other points to be verified
  • No outstanding Exchange dues
  • No pending Investor Complaints
  • No complaints pending in SCORES
  • No SEBI order debarring company or promoters
  • No Adverse comment on the website for matters pertaining primarily to securities market and revocation of suspension.
  • should not be a vanishing company as per data available on the MCA website
5 Signing with the depositories Company should have signed with at least one depository. Provided that where the company has not signed with either/ both the depositories, it shall submit a letter from the relevant depository rejecting admission of the security in the depository
6 Payment of Fees Payment of applicable revocation fees of the Exchange as under.
  • Revocation processing fees : Rs. 25000/- plus applicable service tax. (to be submitted alongwith application seeking in principle approval for revocation and valid for a period of one year)
  • Revocation reinstatement fees plus applicable service tax, payable after receipt of in principle approval for revocation and prior to approval for resumption of trading. (PLEASE REFER NOTES)
7 Information Memorandum Information Memorandum as provided in Schedule II of Companies Act, 1956 to the extent applicable, as certified by the Company Secretary/ MD of the Company to be submitted for dissemination on the Exchange website at the time of revocation
8 Additional requirement for companies already suspended prior to implementation of SOP
  • In terms of SEBI circular of 30-Sep-2013, the Exchange shall, 7 days prior to revocation of suspension of trading in shares of the company, issue a notice informing the market participants about the proposed revocation
  • After revocation of suspension, the trading of shares shall be permitted only on 'Trade for Trade' basis (in "T" group )for a period of three months from the date of revocation and after this period of three months, trading in the shares of the company shall be shifted back to the normal trading category (after verification of the criteria of % of public and promoter holding in demat mode), after giving prior notice of 7 days

Checklist for Revocation of Suspension

Note 1 :

The Method of Calculation of Reinstatement Fee (Effective From April 1, 2015):

< 5 years of suspension = or > 5 years of suspension
Annual Listing Fees (highest payable during the period) * number of years of suspension subject to maximum cap of Rs.30 lakhs Annual Listing Fees (highest payable during the period) * number of years of suspension subject to maximum cap of Rs.60 lakhs.

Note 2:
  • For the Companies in respect of which reference has been made to or which are under the BIFR, the 50% of the reinstatement fess may be levied for the period from the date of reference to the BIFR till the date the company remain under BIFR.
  • For the Companies which are in voluntary winding up or compulsory winding up and the based on court order the Exchange has suspended the trading. If such companies do not want to go for winding up but want to go for activation/ revocation after complying with filings under listing agreement, the maximum cap of reinstatement fees would be Rs.15 lakhs plus taxes.