Description

BSE announces transfer of Benara Bearings and Pistons Ltd to MT group effective August 8, 2025, for non-compliance with quarterly financial disclosure requirements.

Summary

BSE will transfer Benara Bearings and Pistons Ltd (scrip code: 541178) to the “MT” group effective August 8, 2025, due to non-compliance with SEBI LODR Regulation 33 for quarterly financial disclosure requirements. The company failed to submit financial results for half-year periods ended September 2024 and March 2025.

Key Points

  • Benara Bearings and Pistons Ltd will be moved to MT group unless compliance is achieved by August 5, 2025
  • 37 other companies already in Z/MT groups remain non-compliant for December 2024 and March 2025 quarters
  • All trades in Z/MT group scrips will be settled on Trade for Trade basis
  • Action based on SEBI Master Circular dated November 11, 2024

Regulatory Changes

Implementation of SEBI’s penal framework for non-compliance with quarterly financial disclosure requirements under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance Requirements

  • Listed companies must submit quarterly and half-yearly financial results as per prescribed timelines
  • Companies failing to comply face transfer to restricted trading groups (Z/MT)
  • Trade for Trade settlement mechanism applies to restricted scrips
  • Companies must rectify compliance before specified deadlines to avoid penalties

Important Dates

  • August 5, 2025: Final deadline for Benara Bearings and Pistons Ltd to achieve compliance
  • August 8, 2025: Effective date for transfer to MT group if non-compliance persists
  • July 28, 2025: Notice date

Impact Assessment

High impact on affected companies and investors due to:

  • Restricted trading liquidity in Trade for Trade settlement
  • Reduced investor interest and market access
  • Potential delisting risk for continued non-compliance
  • Regulatory scrutiny affecting company reputation
  • 38 companies total affected by similar compliance issues

Impact Justification

Trading restrictions affect liquidity and investor access; multiple companies face penalties for disclosure violations