Description

NSE suspends trading in Shree Ram Proteins Limited due to non-compliance with board composition requirements for two consecutive quarters.

Summary

NSE has announced the suspension of trading in securities of Shree Ram Proteins Limited (SRPL) effective August 28, 2025, due to non-compliance with SEBI Listing Regulations regarding board composition requirements for two consecutive quarters (December 31, 2024 and March 31, 2025).

Key Points

  • Shree Ram Proteins Limited failed to comply with Regulation 17(1) regarding board composition
  • Non-compliance occurred for two consecutive quarters: Q3 FY25 and Q4 FY25
  • Trading suspension will be effective from August 28, 2025
  • Company has until August 22, 2025 to achieve compliance
  • After 15 days of suspension, limited trading will be allowed on Trade for Trade basis in Z category

Regulatory Changes

Action taken pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which outlines consequences for non-compliance with listing obligations.

Compliance Requirements

  • Shree Ram Proteins Limited must comply with Regulation 17(1) of SEBI Listing Regulations regarding board composition
  • Compliance must be achieved by August 22, 2025 to avoid trading suspension
  • Company must meet all provisions of the Master Circular to resume normal trading

Important Dates

  • August 22, 2025: Final deadline for compliance to avoid suspension
  • August 28, 2025: Trading suspension becomes effective
  • After 15 days of suspension: Limited trading allowed on Trade for Trade basis in Z category on first trading day of every week for six months

Impact Assessment

The trading suspension represents a severe regulatory measure that will significantly impact shareholders’ ability to trade the stock. The move to Z category with Trade for Trade basis after 15 days provides limited liquidity but restricts normal market operations. This action serves as a strong enforcement of corporate governance standards and may prompt other companies to ensure compliance with board composition requirements.

Impact Justification

Complete trading suspension of a listed company represents significant regulatory action with material impact on shareholders and market participants