ABG Shipyard, Mandhana Ind move to restricted trade segment

Top bourses BSE and NSE have decided to transfer four companies including ABG Shipyard and Mandhana Industries to restricted trade segment for non-compliance with listing regulations from next week.
ABG Shipyard is an Ahmedabad-based shipbuilding company, while Mandhana Industries is a multi divisional textile firm. Its subsidiary Mandhana Retail Ventures manufactures, retails and distributes Bollywood superstar Salman Khan's Being Human brand.
Apart from these, Shrenuj & Company and Shree Ganesh Jewellery House (I) Ltd would also move to 'Z' group, wherein trades settled on trade for trade basis.
Under the trade-to-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

These scrips will be transferred to 'Z' group with effect from January 24, 2017, due to non-compliances for two consecutive quarters -- June and September -- for Regulation 33 of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, the exchanges said in a separate circulars.
The Regulation 33 pertains to submission of financial results.
For the guidance and benefit of the investors, BSE has classified the securities in the equity segment into 'A', 'B', 'T' and 'Z' groups on certain qualitative and quantitative parameters.
The 'Z' group was introduced by BSE in 1999 and includes firms which have failed to comply with listing requirements and/or have failed to resolve investor complaints and/or have not made the required arrangements with both the depositories -- Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) for dematerialisation of their securities.