 "BSE suspends trading of JK Pharmachem and 7 others on investors' complaint")
The BSE has suspended trading of shares of eight companies including Geodesic, J.K Pharmachem, Teem Laboratories and Global Securities on receipt of numerous complaints against them.
Apart from the aforementioned scrips, trading in Gujarat Perstorp Electronics, Gujarat Narmada Flyash, Blazon Marbles, Softrak Ventures Investments, Rane Computer Consultancy, and Maharashtra Krishna Valley Development Corporation has been suspended. All these companies are in either P, X or XT categories.
| Company name | Category | No. of complaints |
|---|---|---|
| Geodesic Ltd. | P | 27 |
| J.K. Pharmachem Ltd. | X | 16 |
| Gujarat Perstorp Electronics Ltd | P | 12 |
| Teem Laboratories Ltd. | XT | 12 |
| Gujarat Narmada Flyash Co. Ltd. | XT | 11 |
| Blazon Marbles Limited | X | 11 |
| Global Securities Limited | XT | 10 |
| Softrak Venture Investments Ltd. | X | 9 |
| Rane Computers Consultancy Ltd. | P | 8 |
| Maharashtra Krishna Valley Development Corporation Ltd. | 8 |
“The action has been initiated for indefinite period and the suspension will be revoked only after the complaints are resolved,” said Yatin Padia, BSE spokesperson.
According to the data provided by the BSE, investors had registered complaints against non-receipt of interest due (type I), redeemed equity shares/debentures (type II/III), benefits like bonus shares, dividend, buyback letter of offer (type IV), non-receipt of interest for delay in refund dividend, redemption of security (type V), and non-adherence to corporate governance norms (type VI).
About 106 complaints were resolved in June, including pending complaints of earlier period. Of these, 100 were against active companies and six were against now suspended companies, data show.
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