Description
BSE announces suspension of trading for GV Films Ltd and Amit International Ltd effective March 2, 2026 due to non-compliance with SEBI LODR Regulations for two consecutive quarters.
Summary
BSE has announced the suspension of trading in securities of GV Films Ltd (Scrip Code: 523277) and Amit International Ltd (Scrip Code: 531300) effective March 2, 2026, due to non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for two consecutive quarters (June 2025 and September 2025). The suspension follows SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Promoter shareholdings will be frozen during the suspension period.
Key Points
- Trading suspension effective March 2, 2026 for two companies
- GV Films Ltd violated Regulation 17(1) of SEBI LODR
- Amit International Ltd violated Regulation 18(1) of SEBI LODR
- Non-compliance spans two consecutive quarters: June 2025 and September 2025
- Entire promoter shareholding and all securities in promoter demat accounts will be frozen during suspension
- Companies can avoid suspension by complying before February 25, 2026
- Post-suspension, trade-for-trade basis in Z group allowed on first trading day of every week for six months
- Revocation requires full compliance and payment of fines
Regulatory Changes
This circular implements the penal framework prescribed in SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which outlines the Standard Operating Procedure for suspension and revocation of trading for non-compliance with SEBI LODR Regulations.
Compliance Requirements
For Non-Compliant Companies:
- Must comply with all provisions of SEBI LODR Regulations to the satisfaction of BSE
- Must pay all applicable fines
- Compliance deadline: February 25, 2026 (to avoid suspension)
- After suspension, must follow prescribed revocation procedure
Post-Suspension Trading Conditions:
- After 15 days of suspension, trading allowed on trade-for-trade basis only
- Trading restricted to Z group
- Trading permitted only on first trading day of every week
- This limited trading window continues for six months
Promoter Restrictions:
- Complete freeze on promoter shareholding in non-compliant entity
- Freeze on all other securities held in promoter demat accounts
- Freeze remains in effect throughout suspension period
Important Dates
- January 28, 2026: Circular issue date
- February 25, 2026: Last date for companies to comply and avoid suspension
- March 2, 2026: Effective date of trading suspension
- 15 days after March 2, 2026: Limited trade-for-trade basis trading begins (first trading day of each week for six months)
Impact Assessment
Market Impact:
- Complete halt in normal trading for affected securities from March 2, 2026
- Severe liquidity constraints for existing shareholders
- Restricted price discovery mechanism with weekly trade-for-trade sessions
- Investor confidence erosion in non-compliant companies
Investor Impact:
- Existing shareholders face inability to exit positions during full suspension
- Limited liquidity post-15 days with weekly trading windows only
- Promoters completely restricted from trading their holdings
- Potential price volatility when limited trading resumes
Companies Affected:
- GV Films Ltd (523277): Non-compliance with Regulation 17(1) - Composition and role of the board of directors
- Amit International Ltd (531300): Non-compliance with Regulation 18(1) - Composition of audit committee
Severity Factors:
- Two consecutive quarters of non-compliance indicates persistent governance failures
- Promoter freeze represents significant enforcement action
- Limited rehabilitation path through restricted trading demonstrates regulatory seriousness
For clarifications, market participants should contact: bse.soplodr@bseindia.com
Impact Justification
Complete trading suspension affecting two companies with promoter shareholding freeze, impacting investor liquidity and market access for these securities.