BSE to suspend 22 cos for non-compliance of listing agreements

The Bombay Stock Exchange on Thursday said it will suspend trading in shares of 22 companies, including Bollywood film production house, K C Bokadia Films Ltd, for non-compliance of the Listing Agreement. As per the regulations, a company listed on BSE is needed to comply with various clauses of the Listing Agreement, failing which trading in securities of such defaulting companies is liable for suspension. In a statement issued here, BSE said that despite various reminders and subsequent show-cause notices, a total of 22 companies have failed to comply with various provisions of the Listing Agreement up to quarter ended June, 2007. Consequently, trading in securities of these 22 companies listed on BSE would be suspended with effect from March 10. These include, Arunoday Mills, Assambrook, Centron Industrial Alliance, Chankya Investments, Gamma Infoway Exalt, Gold Rock Investments, Hasti Finance, K C Bokadia Films, Noble Explochem, Rajkamal Synthetics, Rashel Agrotech, Sanrhea Technical Textiles, Satellite Engineering, Saya Housing Finance Company, Shamken Cotsyn, Shamken Multifab, Shamken Spinners, Sharda Ispat, Spartek Ceramics India, Super Syncotex India, Systel Infotech and VJIL Consulting Ltd. In case, a company complies to the satisfaction of the Exchange with all the provisions of the Listing Agreement on or before February 28, trading in securities of the company will be suspended for 5 days, or upto March 14, BSE said. In case a company fails to comply with all the provisions of the Listing Agreement on or before March 26, the trading will be suspended for 30 days or up to April 9.