 "NSE suspends trading in 10 firms due non-compliance")
National Stock Exchange (NSE) today said it will suspend trading in ten stocks due to non-compliance of provisions of listing agreement.
Some of these companies include Birla Power Solutions, Geodesic, Edserv Softsystems and First Leasing Company.
Currently, the combined market cap of the ten companies in in excess of Rs 200 crore and bulk of it is free float.
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The suspension in trading will be with effect from December 10, 2013.
Most of the non-compliance in these companies was with regards to non-submission of shareholding patter, financial results, governance report.
“Notices were sent to the above companies seeking reasons for non-compliance with certain provisions of the listing agreement. The companies have failed to respond satisfactorily to the said notices of the exchange. In view of this, the exchange has decided to suspend trading in the equity shares...”NSE said in a release.
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