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NSE Extends Trading in 'Z' Category for Non-Compliant Companies

Mumbai, July 29, 2024 — The National Stock Exchange of India (NSE) has announced the continuation of trading in the 'Z' category for several companies identified as non-compliant with Regulation 33 (Submission of Financial Results) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, for two consecutive quarters (December 31, 2023, and March 31, 2024).

Key Details

Introduction

The NSE has issued a circular (Ref No: NSE/CML/63116) detailing the continuation of trading in the 'Z' category for companies that have failed to submit their financial results for two consecutive quarters. This action is in line with the SEBI Master Circular dated July 11, 2023, and aims to ensure transparency and compliance in the securities market.

Companies Affected

The following companies have been identified for non-compliance and will continue trading in the 'Z' category:

1. CMI Limited
2. Compuage Infocom Limited
3. Educomp Solutions Limited
4. Future Enterprises Limited
5. Future Lifestyle Fashions Limited
6. Future Retail Limited
7. Future Supply Chain Solutions Limited
8. Gayatri Projects Limited
9. Golden Tobacco Limited
10. Housing Development and Infrastructure Limited
11. IL&FS Transportation Networks Limited
12. Jet Airways (India) Limited
13. Lakshmi Precision Screws Limited
14. Melstar Information Technologies Limited
15. Omkar Speciality Chemicals Limited
16. Ortel Communications Limited
17. Rajvir Industries Limited
18. Rolta India Limited
19. Setubandhan Infrastructure Limited
20. Sanwaria Consumer Limited*

Note: *Sanwaria Consumer Limited is compliant at NSE for the quarter ended March 31, 2024, but remains non-compliant at BSE for the same period.

Implications of 'Z' Category Trading

Trade for Trade Basis

Trades in the securities of these companies will continue to be settled on a trade-for-trade basis, meaning each transaction must be settled individually, rather than being netted out at the end of the trading session.

Regulatory Compliance

This measure ensures that companies adhere to strict financial reporting standards, promoting greater transparency and accountability in the market.