Description
BSE to suspend trading in Benara Bearings and Pistons Ltd from January 30, 2026 for non-compliance with Regulation 34 of SEBI LODR Regulations for two consecutive financial years (March 2024 & March 2025).
Summary
BSE will suspend trading in securities of Benara Bearings and Pistons Ltd (Scrip Code: 541178) effective January 30, 2026, due to non-compliance with Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive financial years ending March 2024 and March 2025. The suspension is pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Key Points
- Trading in Benara Bearings and Pistons Ltd will be suspended from January 30, 2026
- Non-compliance relates to Regulation 34 (annual report filing) for FY 2023-24 and FY 2024-25
- Entire promoter shareholding will be frozen during the suspension period
- All securities in promoter demat accounts will remain frozen
- Company can avoid suspension by complying on or before January 27, 2026
- Post-suspension, trade-for-trade trading will be allowed in Z group on first trading day of each week for six months
Regulatory Changes
This circular implements penal actions prescribed under SEBI Master Circular dated November 11, 2024 regarding the Standard Operating Procedure for suspension and revocation of trading for non-compliance with SEBI LODR Regulations, 2015.
Compliance Requirements
For Benara Bearings and Pistons Ltd:
- Must comply with all provisions of SEBI LODR Regulations, 2015 to the satisfaction of BSE
- Must file pending annual reports for FY 2023-24 and FY 2024-25 under Regulation 34
- Must pay applicable fines
- Must follow prescribed procedure and extant norms for revocation of suspension
For Market Participants:
- Note the suspension effective date and trading restrictions
- Understand that promoter shareholding will be frozen
Important Dates
- December 30, 2025: Circular issued
- January 27, 2026: Last date for company to comply and avoid suspension
- January 30, 2026: Trading suspension becomes effective
- 15 days after suspension: Trade-for-trade trading begins on first trading day of every week
- Six months duration: Period for weekly trade-for-trade trading in Z group
Impact Assessment
High Impact on Company:
- Complete suspension of normal trading activities
- Severe liquidity constraints for shareholders
- Promoter shareholding completely frozen
- Reputational damage from non-compliance status
- Limited trading access (only weekly trade-for-trade) after 15 days
Impact on Shareholders:
- Unable to trade securities during suspension period
- Promoters face complete freeze of all holdings
- Only minimal trading opportunity through weekly Z group sessions
- Potential price volatility when limited trading resumes
Market Impact:
- Limited - affects single small company (scrip code 541178)
- Demonstrates regulatory enforcement mechanism
- Serves as precedent for non-compliance consequences
Revocation Conditions: Suspension can only be revoked after the company complies with all SEBI LODR requirements, pays fines, and follows the prescribed revocation procedure.
Impact Justification
Trading suspension with promoter shareholding freeze significantly impacts shareholders and market access for the affected company. Complete halt to normal trading with limited trade-for-trade access post-suspension.