The Bombay Stock Exchange (BSE) on April 17, 2023, notified regarding action against the defaulting Companies for non-payment of Annual Listing Fees (ALF) for the F.Y. 2022-23 – Equity Segment.
the Exchange has identified the companies which have failed to pay the outstanding ALF for FY 2022-23. In spite, of the repeated reminders issued for the non-payment of annual listing fees to defaulting companies, the defaulting companies have failed to pay the annual listing fees or/ and arrears of annual listing fees.
The list of securities that would be suspended with effect from May 17, 2023 (30 days from the issue of this notice) is given in Annexure I. Trading in the suspension of the shares of the company shall be continued till the company complies and makes payment of the outstanding ALF to the Exchange. During the suspension period, trading in the shares of these companies would be allowed on Trade for Trade basis only on the first trading day of every week.
The list of securities that are already suspended shall continue to be under suspension in view of continuing non-compliance with aforesaid listing regulations or for other reasons given in Annexure II.
Further, the list of securities that are compliant at BSE but non-compliant at other recognized stock exchanges is given in Annexure III. It may be noted this Annexure also includes companies that are already under suspension. The active company mentioned in this Annexure would be suspended w.e.f May 17, 2023.
It may be noted that if a company pays its outstanding ALF dues on or before May 12, 2023, then the trading in securities of the company shall not be suspended. This is not applicable if the company is already suspended due to non-compliance with the Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Revocation of suspension would be subject to the company further complying with the procedure and all extant norms.
[Notification No.20230417-49]
