Description
NSE to suspend trading in five companies (DIL, FCONSUMER, RAJESHEXPO, SHRENIK, SRPL) from February 20, 2026 for failure to submit share capital reconciliation audit reports for two consecutive quarters.
Summary
National Stock Exchange of India has issued a circular announcing the suspension of trading in securities of five companies effective February 20, 2026, due to their failure to comply with Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. These companies have not submitted the mandatory Reconciliation of Share Capital Audit Report for two consecutive quarters (June 30, 2025 and September 30, 2025). The affected companies are Debock Industries Limited, Future Consumer Limited, Rajesh Exports Limited, Shrenik Limited, and Shree Ram Proteins Limited.
Key Points
- Five companies face trading suspension for non-compliance with Regulation 76 of SEBI Depository Regulations
- Non-compliance relates to failure to submit share capital reconciliation audit reports for Q2 and Q3 of 2025 (June 30, 2025 and September 30, 2025)
- Suspension effective from February 20, 2026
- 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 (Z category) on the first trading day of every week for six months
- Circular issued under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Regulatory Changes
No new regulatory changes introduced. This circular enforces existing provisions of Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018, which mandates submission of Reconciliation of Share Capital Audit Report on a quarterly basis.
Compliance Requirements
For Affected Companies:
- Must submit pending Reconciliation of Share Capital Audit Reports for June 30, 2025 and September 30, 2025 quarters
- Compliance deadline: February 17, 2026 to avoid suspension
- Must comply with provisions of SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Affected Companies:
- Debock Industries Limited (Symbol: DIL)
- Future Consumer Limited (Symbol: FCONSUMER)
- Rajesh Exports Limited (Symbol: RAJESHEXPO)
- Shrenik Limited (Symbol: SHRENIK)
- Shree Ram Proteins Limited (Symbol: SRPL)
Important Dates
- January 20, 2026: Circular issued
- February 17, 2026: Last date for companies to comply and avoid suspension
- February 20, 2026: Trading suspension effective date
- 15 days after suspension: Transition to Trade for Trade basis (Z category) trading
- Trade for Trade period: First trading day of every week for six months post-suspension
Impact Assessment
Market Impact:
- Complete halt in normal trading for five listed companies
- Significant liquidity impact for existing shareholders
- Limited trading window (once weekly) after initial 15-day suspension period
- Potential price discovery challenges due to restricted trading
Investor Impact:
- Existing shareholders unable to exit positions during suspension period
- Increased transaction costs and reduced liquidity in Trade for Trade category
- Higher compliance risk perception for these securities
Company Impact:
- Reputational damage from regulatory non-compliance
- Restricted access to capital markets
- Potential delisting risk if non-compliance continues
- Loss of investor confidence
Severity Assessment: High severity due to complete trading suspension affecting investor rights and market access. The progressive penalty structure (full suspension followed by restricted Trade for Trade) indicates serious regulatory concern about ongoing non-compliance with fundamental disclosure requirements.
Impact Justification
Complete trading suspension affects investor liquidity and company market access. Five companies face immediate suspension for regulatory non-compliance with potential move to Trade-for-Trade category.