Description
BSE announces suspension of trading in three companies effective November 20, 2025, for failing to comply with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for two consecutive quarters.
Summary
BSE will suspend trading in securities of three companies - Ramasigns Industries Ltd (515127), Retro Green Revolution Ltd (519191), and Vasudhagama Enterprises Ltd (539291) - effective November 20, 2025, due to non-compliance with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for two consecutive quarters (March 2025 and June 2025). The entire promoter shareholding and all securities in promoter demat accounts will be frozen during suspension.
Key Points
- Three companies face trading suspension for violating Regulation 76 for Q1 and Q2 of 2025
- Suspension effective from November 20, 2025 (30 days from notice date)
- Complete freeze on promoter shareholding and all promoter demat account securities during suspension
- Companies have until November 17, 2025 to achieve compliance and avoid suspension
- Post-suspension, trade-for-trade basis trading allowed only on first trading day of each week for six months in Z group
- Notice issued pursuant to SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Regulatory Changes
No new regulatory changes introduced. This circular enforces existing penal provisions under SEBI (Depositories and Participants) Regulations, 2018 and follows the Standard Operating Procedure for suspension and revocation of trading of specified securities.
Compliance Requirements
For Affected Companies
- Must comply with all provisions of Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 to satisfaction of BSE
- Compliance deadline: November 17, 2025 to avoid suspension
- Post-suspension: Must follow prescribed revocation procedure and meet all extant norms for lifting suspension
For Market Participants
- Note the suspension effective date and affected scrips
- Be aware of promoter shareholding freeze during suspension period
- Understand post-suspension trading restrictions (trade-for-trade, Z group, weekly basis)
Important Dates
- October 20, 2025: Notice issued
- November 17, 2025: Last date for companies to achieve compliance and avoid suspension
- November 20, 2025: Trading suspension becomes effective (if non-compliance continues)
- 15 days after suspension: Trade-for-trade basis trading begins on first trading day of each week for six months
Impact Assessment
Market Impact
- Investors in affected securities face liquidity constraints starting November 20, 2025
- Promoters completely restricted from trading their holdings during suspension
- Post-suspension, severely limited trading opportunities (once per week, trade-for-trade only)
Affected Companies
- Ramasigns Industries Ltd (Scrip: 515127)
- Retro Green Revolution Ltd (Scrip: 519191)
- Vasudhagama Enterprises Ltd (Scrip: 539291)
Operational Impact
- Complete trading halt unless last-minute compliance achieved
- Promoter shareholding and demat accounts frozen, preventing any corporate actions or transactions
- Migration to Z group with restrictive trading mechanisms post-suspension
- Revocation requires compliance plus additional procedural formalities
Investor Considerations
- Current shareholders should monitor compliance status before November 17, 2025
- High risk of illiquidity if suspension proceeds
- Limited exit opportunities post-suspension (weekly trade-for-trade only)
- Uncertain timeline for revocation depending on company remediation efforts
Impact Justification
Trading suspension with promoter shareholding freeze affects three companies and their investors. Complete halt of trading unless compliance achieved before deadline.