Description
BSE announces suspension of trading in 9 companies effective February 20, 2026 for non-compliance with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for two consecutive quarters.
Summary
BSE has issued a notice announcing 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 will be accompanied by a freeze on the entire promoter shareholding and all securities in promoter demat accounts. Companies can avoid suspension by achieving compliance by February 17, 2026.
Key Points
- 9 companies face trading suspension from February 20, 2026
- Non-compliance relates to Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018
- Non-compliance period: Two consecutive quarters (June 2025 & September 2025)
- Entire promoter shareholding and all promoter demat account securities 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 basis in Z group will be allowed only on first trading day of every week for six months
- Circular issued pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Affected Companies
The following 9 companies will face trading suspension:
- 533400 - Future Consumer Ltd
- 536709 - IND Renewable Energy Ltd
- 532745 - Inditrade Capital Ltd
- 506867 - Master Chemicals Ltd
- 532105 - Mega Fin India Ltd
- 543579 - Naturo Indiabull Ltd
- 530095 - Pradhin Ltd
- 531500 - Rajesh Exports Ltd
- 531444 - Vardhman Concrete Ltd
Regulatory Framework
This action is taken under the Standard Operating Procedure for suspension and revocation of trading of specified securities of listed entities, as prescribed in SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which addresses penal actions for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Compliance Requirements
- Companies must comply with all provisions of Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 to the satisfaction of the Exchange
- Compliance must be achieved on or before February 17, 2026 to avoid suspension
- For revocation of suspension after it takes effect, companies must follow the prescribed procedure and meet all extant norms for revocation
- Queries regarding compliance should be directed to bse.soplodr@bseindia.com
Important Dates
- January 20, 2026: Notice issued
- February 17, 2026: Deadline for companies to comply and avoid suspension
- February 20, 2026: Trading suspension becomes effective
- 15 days after suspension: Trade-for-trade basis in Z group begins (first trading day of every week only)
- Six months from suspension: Duration of trade-for-trade restriction period
Impact Assessment
Market Impact:
- Complete trading halt for 9 listed companies affects investor liquidity
- Investors holding these securities will face liquidity constraints
- Secondary market transactions will be severely restricted
Promoter Impact:
- Entire promoter shareholding frozen during suspension period
- All securities in promoter demat accounts frozen
- Promoters cannot sell, transfer, or pledge their holdings
Trading Restrictions Post-Suspension:
- After 15 days of suspension, limited trading allowed only on trade-for-trade basis
- Trading restricted to Z group classification
- Transactions permitted only on first trading day of each week
- These restrictions apply for six months
Compliance Pressure:
- Companies face significant operational and reputational damage
- Must achieve compliance to restore normal trading
- Revocation process requires meeting additional prescribed norms
Investor Advisory:
- Existing shareholders should monitor compliance status closely
- Limited exit opportunities once suspension takes effect
- Risk of prolonged illiquidity if companies fail to comply promptly
Impact Justification
Trading suspension affects 9 listed companies with complete freeze on promoter shareholding, significantly impacting investor liquidity and company operations until compliance is achieved.