Sub: Action against the Defaulting Companies for non-payment of Annual Listing Fees – Equity Segment
Trading Members are requested to note in that as per Regulation 14 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”) and the provisions of Rules, Bye-laws and Regulations of the Exchange, every listed company is required to pay annual listing fees to the Exchange where its securities are listed. The trading in the equity shares of such defaulting company would remain in Trade to Trade Segment as per notice no. 20190412-41 dated April 12, 2019. Pursuant to circular dated April 05, 2019 the Exchange will proceed to take further action against these companies, as mentioned therein.
Ø The trading in the equity shares of the defaulting company will be moved to a “CALL AUCTION” basis w.e.f. May 22, 2019 if the defaulting company fails to pay the outstanding ALF.
Trading Members are further requested to note that dealing in the above-mentioned scrip of the Company will be allowed only under “Periodic Call Auction System” (PCAS), with applicable price band till the Company pays all outstanding dues of the Exchange.
For more information on Periodic Call Auction System (PCAS), the Trading Members are requested to refer SEBI circular no CIR/MRD/DP/38/2013 dated December 19, 2013 and Exchange Notice No. -20131220-26 dated December 20, 2013.
For action to be taken in respect of these Companies in future, please refer to the Exchange Circular No. LIST/COMP/OPS/02/2019-20 dated April 05, 2019. The link of the Circular as follow:
https://www.bseindia.com/corporates/Displaydata.aspx?Id=82549dd2-3876-4e95-b838-492d6a613de3&Page=cir
The list of defaulting companies that have failed to pay the annual listing fees to the Exchange is given as Annexure to the notice.
Note:
If a company pays the arrears of annual listing fees prior to the start of trading in PCAS segment i.e. before May 21, 2019, name of the company will be removed from the final list of the defaulting companies. Not applicable if the company is in PCAS segment due to non-compliance of Regulations of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), Surveillance measures etc.
Trading Members are requested to contact the following officers of the Exchange for further clarification if any:
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Contact persons / Department
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Email Ids
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Mr. Tushar Kamath / Mr. Pranav Singh
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listing.accounts@bseindia.com
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Tushar Kamath
Deputy General Manager
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Pranav Singh
Associate Manager
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May 15, 2019
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