Description
BSE will suspend 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 (June 2025 & September 2025).
Summary
BSE has issued a notice for 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 include freezing of entire promoter shareholding and all securities in promoter demat accounts. Companies can avoid suspension by complying before February 17, 2026.
Key Points
- 9 companies face trading suspension from February 20, 2026
- Non-compliance period: June 2025 and September 2025 quarters
- Entire promoter shareholding will be frozen during suspension
- All securities in promoter demat accounts will remain frozen
- Companies have until February 17, 2026 to comply and 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 every week for six months
- Action taken pursuant to SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Regulatory Changes
This circular implements penal actions prescribed under SEBI Master Circular for non-compliance with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. The Standard Operating Procedure for suspension and revocation of trading of specified securities is being applied.
Compliance Requirements
Affected Companies:
- Future Consumer Ltd (Scrip: 533400)
- IND Renewable Energy Ltd (Scrip: 536709)
- Inditrade Capital Ltd (Scrip: 532745)
- Master Chemicals Ltd (Scrip: 506867)
- Mega Fin India Ltd (Scrip: 532105)
- Naturo Indiabull Ltd (Scrip: 543579)
- Pradhin Ltd (Scrip: 530095)
- Rajesh Exports Ltd (Scrip: 531500)
- Vardhman Concrete Ltd (Scrip: 531444)
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 after suspension, companies must follow prescribed procedure and all extant norms
Important Dates
- January 20, 2026: Notice date
- February 17, 2026: Last date for companies to comply and avoid suspension
- February 20, 2026: Trading suspension effective date
- 15 days after suspension: Restricted trading begins (Trade for Trade basis in Z group, first trading day of every week for six months)
Impact Assessment
Immediate Impact:
- Complete halt in trading of 9 company securities from February 20, 2026
- Liquidity freeze on promoter holdings prevents any sale or transfer
- Investors holding these securities will be unable to trade during suspension period
Post-Suspension Impact:
- Limited trading window (once per week) on Trade for Trade basis only
- Securities moved to Z group indicating high risk
- Six-month restricted trading period affects investor confidence
- Potential delisting risk if compliance not achieved
Market Participants:
- Brokers must inform clients holding these securities
- Investors should assess risk exposure before suspension date
- Promoters face complete freeze on their shareholdings across all demat accounts
For clarifications, market participants can email: bse.soplodr@bseindia.com
Impact Justification
Complete trading suspension affecting 9 companies with promoter shareholding freeze and subsequent restricted trading on Trade for Trade basis only