Market regulator Securities and Exchange Board of India (Sebi) has suspended trading in shares of Coffee Day Enterprises
(CDEL) from Monday. Sources in the know said breach of listing obligations by not submitting audited financial statements in time could be the reason behind suspension of trading. The shares of the firm were last traded on Saturday (February 1) when the market was open for the Budget announcements.
Earlier, the market regulator had informed CDEL that delay in declaration of earnings beyond January 29, could lead to halting of trade in the company’s shares due to breach of listing regulations. However, the Bengaluru-headquartered firm had sought more time for submission of audited results citing to non-completion of internal investigations.