Description
NSE suspends trading in SRPL w.e.f. January 30, 2026 for non-compliance with Regulation 34 (Annual Report submission) for FY 2023-24 and 2024-25.
Summary
NSE has announced the suspension of trading in securities of Shree Ram Proteins Limited (SRPL) effective January 30, 2026, due to non-compliance with Regulation 34 of SEBI LODR for two consecutive financial years (March 31, 2024 and March 31, 2025). The company failed to submit its Annual Reports as required. If compliance is not achieved by January 27, 2026, trading will be suspended and subsequently moved to Trade for Trade basis (Z category) after 15 days.
Key Points
- Shree Ram Proteins Limited (SRPL) has failed to comply with Regulation 34 (Annual Report submission requirement)
- Non-compliance spans two consecutive financial years: FY 2023-24 and FY 2024-25
- Trading suspension will take effect from January 30, 2026
- Company has opportunity to comply before January 27, 2026 to avoid suspension
- After 15 days of suspension, trading will be allowed on Trade for Trade basis (Z category) on first trading day of every week for six months
- Action taken pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Regulatory Changes
No new regulatory changes introduced. This circular implements existing provisions of SEBI Master Circular regarding consequences for non-compliance with annual report filing requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Compliance Requirements
For Shree Ram Proteins Limited:
- Must comply with Regulation 34 (submit Annual Reports for FY 2023-24 and FY 2024-25) on or before January 27, 2026
- Must comply with provisions of SEBI Master Circular to lift trading suspension
For Investors and Market Participants:
- Be aware of impending trading suspension from January 30, 2026
- After 15 days of suspension, trading will only be available on Trade for Trade basis (Z category) on the first trading day of each week for six months
- No intraday trading will be permitted during Z category trading period
Important Dates
- December 30, 2025: Circular issued
- January 27, 2026: Last date for company to comply and avoid suspension
- January 30, 2026: Trading suspension takes effect
- February 14, 2026 (approx.): After 15 days of suspension, Trade for Trade basis (Z category) trading begins on first trading day of every week for six months
Impact Assessment
Market Impact:
- Complete halt in trading of SRPL securities from January 30, 2026
- Severe liquidity constraints for existing shareholders
- Limited exit opportunities only on weekly basis under Z category after 15 days
Investor Impact:
- High - Shareholders will be unable to trade the stock except under restricted conditions
- Significant uncertainty regarding company’s financial position due to lack of annual reports
- Potential wealth erosion due to illiquidity and inability to exit positions
Company Impact:
- Reputational damage from regulatory non-compliance
- Loss of investor confidence
- Difficulty in raising capital
- Potential delisting if non-compliance continues
Operational Impact:
- Trading members need to update their systems to reflect trading suspension
- Monitoring required for potential compliance and resumption of normal trading
Impact Justification
Complete trading suspension for failure to file annual reports for two consecutive years; significant impact on shareholders and liquidity