Description
BSE to suspend trading in Benara Bearings and Pistons Ltd from January 30, 2026 for failing to submit annual reports for FY 2024 and FY 2025, with promoter shareholding to be frozen.
Summary
BSE has announced the suspension of 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 LODR Regulations 2015 for two consecutive financial years (March 2024 and March 2025). The suspension includes freezing of entire promoter shareholding during the suspension period. This action 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 failure to submit annual reports under Regulation 34 for FY 2024 and FY 2025
- Entire promoter shareholding and all securities in promoter demat accounts will be frozen during suspension
- Company has opportunity to comply by January 27, 2026 to avoid suspension
- After 15 days of suspension, trading will be allowed only on Trade for Trade basis in Z group on first trading day of each week for six months
- Revocation requires compliance with all extant norms and payment of fines
Regulatory Changes
This circular implements the penal framework under SEBI Master Circular dated November 11, 2024, which prescribes standardized actions for non-compliance with SEBI LODR Regulations. The suspension follows the Standard Operating Procedure for suspension and revocation of trading of specified securities.
Compliance Requirements
For Benara Bearings and Pistons Ltd:
- Submit annual reports for FY 2024 and FY 2025 as required under Regulation 34 of SEBI LODR
- Comply with all provisions of SEBI LODR Regulations 2015 to the satisfaction of BSE
- Pay applicable fines
- Follow prescribed procedure for revocation of suspension
For Market Participants:
- Note the suspension effective date and adjust trading activities accordingly
- Be aware of promoter shareholding freeze implications
Important Dates
- December 30, 2025: Notice issued by BSE
- January 27, 2026: Last date for company to comply and avoid suspension
- January 30, 2026: Trading suspension becomes effective if non-compliance continues
- 15 days after suspension: Trade for Trade facility begins (first trading day of each week for 6 months, Z group only)
Impact Assessment
High Impact on:
- Existing shareholders who will face complete illiquidity from January 30, 2026
- Promoters whose entire shareholding and demat securities will be frozen
- Investors unable to exit positions except during limited Trade for Trade windows post-suspension
Market Implications:
- Two consecutive years of non-compliance indicates serious governance and operational issues
- Complete trading halt will prevent price discovery
- Limited Trade for Trade facility provides minimal liquidity relief
- Promoter freeze prevents any exit or restructuring during suspension period
- Revocation requires full compliance, fine payment, and satisfaction of exchange norms
Compliance Signal:
- Demonstrates SEBI’s strict enforcement of annual reporting requirements
- Sets precedent for listed entities regarding consequences of sustained non-compliance
- Emphasizes importance of timely submission of financial statements
Impact Justification
Complete trading suspension with promoter shareholding freeze impacts all investors; company has failed to submit annual reports for two consecutive years indicating serious compliance issues