Description

NSE suspends trading in Debock Industries Limited and Shree Ram Proteins Limited from March 02, 2026 for non-submission of corporate governance reports for two consecutive quarters.

Summary

The National Stock Exchange of India has announced the suspension of trading in securities of Debock Industries Limited (DIL) and Shree Ram Proteins Limited (SRPL) effective March 02, 2026. Both companies have failed to comply with Regulation 27(2) of SEBI Listing Regulations by not submitting corporate governance reports for two consecutive quarters ending June 30, 2025 and September 30, 2025.

Key Points

  • Two companies face trading suspension: Debock Industries Limited (DIL) and Shree Ram Proteins Limited (SRPL)
  • Non-compliance relates to Regulation 27(2) - submission of corporate governance reports
  • Companies failed to submit reports for Q1 FY2026 (June 30, 2025) and Q2 FY2026 (September 30, 2025)
  • Suspension effective from March 02, 2026
  • Companies have until February 25, 2026 to comply and avoid suspension
  • After 15 days of suspension, trading will be allowed only on Trade for Trade basis (Z category) on first trading day of every week for six months
  • Suspension will continue until companies comply with SEBI Master Circular requirements

Regulatory Changes

No new regulatory changes introduced. This circular enforces existing provisions under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 and Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.

Compliance Requirements

  • Listed companies must submit corporate governance reports as required under Regulation 27(2) of SEBI LODR Regulations
  • Non-compliant companies (DIL and SRPL) must submit pending corporate governance reports for June 30, 2025 and September 30, 2025 quarters on or before February 25, 2026
  • Compliance with provisions of SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 is mandatory
  • Failure to comply will result in trading suspension followed by restricted Trade for Trade trading

Important Dates

  • January 28, 2026: Circular issued by NSE
  • February 25, 2026: Last date for companies to comply and avoid suspension
  • March 02, 2026: Trading suspension becomes effective if companies remain non-compliant
  • March 17, 2026 onwards (15 days after suspension): Trade for Trade (Z category) trading allowed on first trading day of every week for six months

Impact Assessment

Market Impact: High - Complete trading suspension prevents all buying and selling activities in these securities, creating liquidity freeze for existing shareholders. This significantly impacts investor portfolios holding these stocks.

Investor Impact: Existing shareholders will be unable to exit positions from March 02, 2026 until compliance is achieved or Trade for Trade window opens after 15 days. Limited weekly trading windows in Z category will have minimal liquidity.

Company Impact: Severe reputational damage and loss of investor confidence. The suspension signals serious governance concerns and may trigger further regulatory scrutiny. Companies face difficulty in capital raising and may see promoter credibility eroded.

Operational Impact: The phased penalty structure (full suspension followed by restricted Trade for Trade) creates uncertainty for market participants and reduces market confidence in these securities.

Impact Justification

Complete trading suspension of two companies due to corporate governance non-compliance affects investors' ability to trade these securities and signals serious regulatory violations.