New Delhi: The major stock exchanges, BSE and NSE, will suspend trading in shares of Coffee Day Enterprises and CG Power from February 3 for not declaring quarterly results.
This is in contravention of SEBI's listing norms pertaining to submission of quarterly financial results. The exchanges have said that if companies comply with the provisions of listing norms before January 29, trading in shares will not be suspended.
These companies have not submitted the financial results for April-June 2019 and July-September 2019 quarters and not paid the fine levied for non-compliance, as required under the listing norms prescribed by SEBI.
The stock exchanges said that trading in securities of these companies will be suspended with effect from February 3, on account of non-compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for two consecutive quarters -- June 2019 and September 2019.