Trading restrictions by BSE to be imposed on 161 firms from May 5

New Delhi [India], May 1 (ANI): The Bombay Stock Exchange has announced that it will impose trading restrictions on 161 companies from May 5 due to their failure to pay the annual listing fee.

However, 140 companies have already faced trading restrictions for certain other regulatory non-compliance.

The remaining 21, out of which eight firms have been moved to 'T' group, and 13 will be transferred to 'XT' group.

The firms being placed under 'T' group are W S Industries (India), Alps Industries, Bilpower, Madhucon Projects, Rei Agro, Software Technology Group Intl, Parabolic Drugs and Hanung Toys and Textiles.

Companies such as Rathi Steel & Power, Magnum, Himalya International, Alchemist Corporation, Raymed Labs, Tricom Fruit Products, Infronics Systems and Indovation Technologies will be moved to 'XT' group.

BSE in a circular has stated that in spite of the repeated reminders and show cause notices issued for the non-payment of annual listing fees, the defaulting companies have failed to pay the arrears of annual listing fee to the exchange.

As per Sebi (Listing Obligations and Disclosure Requirements) Regulations, every listed company is required to pay annual listing fee to the exchange where its securities are listed.

The statement further adds that if a company pays the arrears of annual listing fees prior to the start of trading in the trade-to-trade segment, then the name of the company will be removed from the final list of the defaulting companies. (ANI)