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SAT stays trading restrictions on J Kumar Infraprojects, Prakash Industries

These were among 331 suspected shell companies

Press Trust of India  |  Mumbai 

Representative image. (Illustration: Ajay Mohanty)
Representative image. (Illustration: Ajay Mohanty)

The Securities Appellate Tribunal on Thursday stayed trading restrictions imposed on JKumar Infraprojects and Prakash Industries, which are among the 331 suspected identified by the

regulator had asked the stock exchanges to restrict trading in of 331 "suspected shell companies", some of which have by several well-known domestic and foreign investors.

The move came after the watchdog received the list of such companies from the and many of the 331 firms are under the scanner of the Serious Investigation Office (SFIO) and the Department.

JKumar Infraprojects and had moved the SAT against the directions.

Following their appeals, the SAT has stayed the trading restrictions imposed on the two companies and these can resume normal trading tomorrow.

On August 8, many of the companies tagged annual reports and other financials along with their filings to press upon the exchanges that they are not and are in compliance with all regulations.

Out of the 331 companies on the list, more than 160 are actively traded on the exchanges.

First Published: Thu, August 10 2017. 16:22 IST