Description

BSE discontinues weekly trade-for-trade facility for Longview Tea Company Ltd and Seacoast Shipping Services Ltd effective December 30, 2025, following completion of six-month suspension period for non-compliance with SEBI LODR Regulations.

Summary

BSE has announced the discontinuation of weekly trading facility for two companies - Longview Tea Company Ltd (Scrip Code: 526568) and Seacoast Shipping Services Ltd (Scrip Code: 542753) - effective December 30, 2025. These companies were previously suspended for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and had been allowed limited trading on a Trade for Trade basis in Z group only on the first trading day of every week. The six-month mandatory period for this limited trading facility has now been completed.

Key Points

  • Two companies affected: Longview Tea Company Ltd (526568) and Seacoast Shipping Services Ltd (542753)
  • Weekly trade-for-trade facility in Z group to be discontinued from December 30, 2025
  • Companies were suspended for non-compliance with SEBI LODR Regulations, 2015
  • Six-month period of weekly trading facility has been completed
  • This follows BSE Notice No. 20250507-16 dated May 07, 2025
  • Trading was permitted only on first trading day of each week during the six-month period

Regulatory Changes

The circular implements the provisions of SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, specifically Chapter-VII(A) dealing with Penal Actions for Non-Compliance. The Standard Operating Procedure (SOP) for suspension and revocation of equity shares mandates that after completion of six months of limited trading facility, such facility must be discontinued for non-compliant entities.

Compliance Requirements

  • All market participants must note the discontinuation of weekly trading from December 30, 2025
  • No further trading will be permitted in these securities after the effective date
  • Market participants should advise their clients holding positions in these securities accordingly
  • For clarifications, market participants should contact BSE at bse.soplodr@bseindia.com

Important Dates

  • May 07, 2025: Initial suspension notice issued (Notice No. 20250507-16)
  • December 12, 2025: Notice date for discontinuation announcement
  • December 30, 2025: Effective date for discontinuation of weekly trading facility

Impact Assessment

High Impact on Shareholders: Shareholders of Longview Tea Company Ltd and Seacoast Shipping Services Ltd will lose their last remaining avenue for trading these securities after December 30, 2025. The discontinuation of weekly trading eliminates any liquidity options for existing investors.

Market Operations: The move reinforces BSE’s commitment to enforcing SEBI’s listing compliance requirements and represents the final stage of penalty action for persistent non-compliance.

Investor Exit: Investors holding these securities had a six-month window (approximately May-December 2025) to exit their positions through weekly trade-for-trade transactions. Post-discontinuation, these securities will be completely untradeable on the exchange until compliance is restored or delisting occurs.

Precedent Setting: This action serves as a warning to other listed entities about the consequences of continued non-compliance with LODR requirements, demonstrating the progressive escalation of penalties from suspension to complete trading prohibition.

Impact Justification

Complete discontinuation of trading facility impacts shareholders' ability to exit positions in these suspended securities after six-month grace period ends