Pursuant to the provisions of Circular no. CIR/CFD/CMD/12/2015 dated November 30, 2015 issued by Securities and Exchange Board of India (SEBI) with respect to Standard Operating Procedure (SOP) for suspension and revocation of equity shares of listed entities for non-compliance with provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Trading members are requested to note that the following will be effected:
1) Trading in securities of the undermentioned companies will be suspended w.e.f October 25, 2018 (being 21 days from issue of this notice); on account of non-compliance with Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e., March 2018 & June 2018.
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Scrip Code
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Company Name
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533790
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KGN Enterprises Ltd
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531612
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KGN Industries Ltd
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539125
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Layla Textile and Traders Ltd
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2) Freezing of the entire promoter shareholding of the aforesaid companies w.e.f. October 03, 2018 till further notice.
Trading Members may further note that:
a) In case, the aforesaid companies comply (to the satisfaction of the Exchange) with all the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including payment of fines on or before October 19, 2018; trading in securities of the said companies will not be suspended.
b) However, in case the aforesaid companies fail to comply with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the satisfaction of the Exchange on or before October 19, 2018; then :-
· Trading in the securities of the companies would be suspended w.e.f. October 25, 2018, and the suspension will continue till such time the Company complies including payment of fines.
· 15 days after suspension has been effected, trading in the shares of non-compliant companies would be allowed on Trade for Trade basis in Z group only on the first trading day of every week for six months.
· Revocation of suspension would be subject to the companies further complying with the procedure and all extant norms prescribed for revocation of suspension.
The above mentioned companies are also non-compliant with Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 for two consecutive quarters i.e., March 2018 and June 2018.
- If the said companies do not comply with Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 for two consecutive quarters i.e., March 2018 and June 2018, the companies would be suspended as per the provisions of Notice No. 20180925-27.
· If the companies comply with Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 for two consecutive quarters i.e., March 2018 and June 2018, and are non- complaint with Regulation 27(2) of SEBI Listing Regulations, 2015 for two consecutive quarters i.e., March 2018 and June 2018 then the suspension date for the above mentioned companies would be October 25, 2018.
For further clarification on the above, you may please contact Ms. Rashmi Armarkar on 022-22725645 / Mr. Manish Raval on 022-22725025/ Mr. Sambhaji Solat on Tel No. 022-22728074.
Netra Sahani Sambhaji Solat
Dy. General Manager Associate Manager
Listing Compliance Listing Compliance
October 3, 2018
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