Description
BSE announces suspension of trading in 9 company securities effective February 20, 2026 for non-compliance with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for two consecutive quarters.
Summary
BSE has announced the suspension of trading in securities of 9 companies effective February 20, 2026, due to non-compliance with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for two consecutive quarters (June 2025 and September 2025). The suspension is pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Promoter shareholdings in these companies will be completely frozen during the suspension period.
Key Points
- 9 companies face trading suspension from February 20, 2026 for Regulation 76 non-compliance
- Non-compliance period: Two consecutive quarters (June 2025 & September 2025)
- Entire promoter shareholding and all securities in promoter demat accounts will be frozen during suspension
- Companies can avoid suspension by complying on or before February 17, 2026
- After 15 days of suspension, trade-for-trade facility will be available on first trading day of every week for 6 months in Z group only
- Revocation requires compliance with all prescribed norms and procedures
Affected Companies
| Sr. No | Scrip Code | Company Name |
|---|---|---|
| 1 | 533400 | Future Consumer Ltd |
| 2 | 536709 | IND Renewable Energy Ltd |
| 3 | 532745 | Inditrade Capital Ltd |
| 4 | 506867 | Master Chemicals Ltd |
| 5 | 532105 | Mega Fin India Ltd |
| 6 | 543579 | Naturo Indiabull Ltd |
| 7 | 530095 | Pradhin Ltd |
| 8 | 531500 | Rajesh Exports Ltd |
| 9 | 531444 | Vardhman Concrete Ltd |
Regulatory Changes
This action is based on the penal framework established under:
- SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
- Standard Operating Procedure for suspension and revocation of trading of specified securities
- Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018
Compliance Requirements
For Companies:
- Must comply with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018
- Compliance must be to the satisfaction of BSE
- Must follow prescribed revocation procedure and norms to lift suspension
During Suspension:
- Promoter shareholding remains completely frozen
- All securities in promoter demat accounts remain frozen
- After 15 days: Limited trading allowed on trade-for-trade basis in Z group only on first trading day of each week for 6 months
Important Dates
- January 20, 2026: Notice issued
- February 17, 2026: Last date for companies to comply and avoid suspension
- February 20, 2026: Trading suspension becomes effective
- 15 days after February 20, 2026: Trade-for-trade facility commences (weekly, for 6 months)
Impact Assessment
Investor Impact:
- Severe liquidity constraints for existing shareholders
- Limited exit opportunities through weekly trade-for-trade mechanism only
- Potential capital loss due to restricted trading and likely price pressure
- Frozen promoter holdings may signal governance concerns
Market Impact:
- Complete halt in normal trading for these securities
- Movement to Z group carries negative market perception
- Increased volatility expected during limited weekly trading windows
Company Impact:
- Reputational damage from regulatory non-compliance
- Difficulty in raising capital during suspension period
- Risk of further regulatory action if compliance not achieved
- Potential delisting if prolonged non-compliance continues
Contact: For clarifications, email bse.soplodr@bseindia.com
Impact Justification
Trading suspension affects 9 companies with complete freeze of promoter shareholding, significant liquidity impact for investors, and potential delisting risk if non-compliance continues