Description

BSE transfers Benara Bearings and Pistons Ltd to MT group effective August 8, 2025 for non-compliance with quarterly results filing requirements.

Summary

BSE has announced the transfer of Benara Bearings and Pistons Ltd (scrip code: 541178) to the “MT” group effective August 8, 2025, due to non-compliance with Regulation 33 of SEBI LODR Regulations 2015 for quarterly results filing. The company has until August 5, 2025 to comply and avoid the transfer. Additionally, 37 other companies already in Z/MT groups remain non-compliant for consecutive quarters.

Key Points

  • Benara Bearings and Pistons Ltd will be transferred to MT group on August 8, 2025
  • Non-compliance relates to quarterly results filing for September 2024 and March 2025 periods
  • Company has grace period until August 5, 2025 to comply
  • 37 additional companies listed as non-compliant for December 2024 and March 2025 quarters
  • All affected scrips will trade on Trade for Trade basis in Z/MT groups

Regulatory Changes

Enforcement action under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 regarding penal actions for non-compliance with SEBI LODR Regulations 2015.

Compliance Requirements

  • Companies must file quarterly results as per Regulation 33 of SEBI LODR Regulations 2015
  • Failure to comply results in transfer to restrictive trading groups (Z/MT)
  • Companies in Z/MT groups subject to Trade for Trade settlement

Important Dates

  • August 5, 2025: Last date for Benara Bearings to comply and avoid MT group transfer
  • August 8, 2025: Effective date for transfer to MT group if non-compliance continues
  • July 28, 2025: Circular issue date

Impact Assessment

The transfer to MT group significantly restricts trading liquidity and investor access. Trade for Trade settlement increases transaction costs and reduces market making activities. This affects 38 companies total, with Benara Bearings facing immediate action while 37 others already face restrictions. Impact is contained to specific non-compliant entities rather than broader market disruption.

Impact Justification

Affects trading status of multiple companies but primarily routine compliance enforcement