28th October 2016
NOTICE
Sub:
Freezing of Promoter and Promoter group Demat accounts for Non-compliance with
certain provisions of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015
To all listed
companies
Attention of all listed
companies of the Calcutta Stock Exchange is drawn to SEBI Circular Ref. No. SEBI/HO/CFD/CMD/CIR/P/2016/116 dated October 26, 2016
(copy available at CSE web-site at www.cse-india.com
and SEBI web-site at www.sebi.com) wherein
“2. It has been observed that some of the non-compliant listed
entities have not paid the fines levied by the recognized stock exchange(s). In
order to ensure effective enforcement, it has been decided in consultation with
recognized stock exchanges to freeze the holdings of their promoters and
promoter group entities in the manner specified below:
2.1.
Where a non-compliant listed entity fails to pay fine levied as per the notice
issued by the concerned recognized stock exchange in terms of paragraph 4 of
Annexure I of the aforesaid circular, the concerned recognized stock exchange
shall, upon expiry of the period indicated in the notice issued by it, freeze
holdings in other securities in the demat accounts of promoter and promoter
group to the extent of liability which shall be calculated on a quarterly
basis.
2.2. In
case of non-compliance for two consecutive periods, and failure to comply with
the notice issued by the concerned recognized stock exchange as per paragraph 3
of Annexure II of the aforesaid circular, as per the current practice, the
concerned recognized stock exchange shall forthwith intimate the depositories
to freeze the entire shareholding of the promoter and promoter group in such
listed entity. In addition to the freeze of shares in the non-compliant listed
entity, the holdings in the demat accounts of promoter and promoter group in
other securities shall also be frozen to the extent of liability which shall be
calculated on a quarterly basis.”
This is for information and necessary action for all listed
companies of CSE.
CS Chandrani Datta