Pursuant to the provisions of Circular No. SEBI/HO/CFD/CMD/CIR/P/2018/77 dated May 3, 2018 (erstwhile 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 January 10, 2019 (being 21 days from issue of this notice); on account of non-compliance with Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e., June 2018 and September 2018.
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Sr. No.
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Scrip Code
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Company Name
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1
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531581
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Alka Diamond Industries Ltd
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2
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538608
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Dwitiya Trading Ltd
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3
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513575
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Sterling Powergensys Ltd *
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4
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532948
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Tulsi Extrusions Ltd
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(*) Company has submitted the Shareholding Pattern as on date. However, it has not paid the applicable fines. Hence, as per the provisions of Circular No. SEBI/HO/CFD/CMD/CIR/P/2018/77 dated May 3, 2018 (erstwhile Circular no. CIR/CFD/CMD/12/2015 dated November 30, 2015) issued by Securities and Exchange Board of India (SEBI), Company would be suspended w.e.f. January 10, 2019 (being 21 days from issue of this notice).
2) Freezing of the entire shareholding of the promoter and promoter group in the noncompliant listed entity as well as all other securities held in the demat account(s) of the promoter and promoter group w.e.f December 19, 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 January 07, 2019; 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 January 07, 2019; then :-
· Trading in the securities of the companies would be suspended w.e.f. January 10, 2019, 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 following company is non-compliant with Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e., June 2018 and September 2018 and also Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters i.e., June 2018 and September 2018.
- If the said company does not comply with Regulation 27(2) of SEBI Listing Regulations, 2015 for two consecutive quarters i.e., June 2018 and September 2018, the company would be suspended as per the provisions of Notice No. 20181211-41.
· If the company complies with Regulation 27(2) of SEBI Listing Regulations, 2015 for two consecutive quarters i.e., June 2018 and September 2018, and are non- complaint with Regulation 31 of SEBI Listing Regulations, 2015 for two consecutive quarters i.e., June 2018 and September 2018, then the suspension date for the following company would be January 10, 2019.
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Sr. No.
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Scrip Code
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Company Code
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1
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531467
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Arnav Corporation Ltd
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For further clarification on the above, you may please contact Ms. Rashmi Armarkar on Tel no. 022-22725645 / Mr. Manish Raval on 022-22725025.
Netra Sahani Arpita Joshi
Dy. General Manager Manager
Listing Compliance Listing Compliance
December 19, 2018 |