BSE, NSE to suspend trading in United Breweries, others from 8 September
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New Delhi: Leading bourses BSE and NSE will suspend trading in the shares of United Breweries (Holdings) Ltd from 8 September while the entire promoter shareholding has been frozen with immediate effect.
Fugitive liquor baron Vijay Mallya is a promoter of UBHL.
Trading in UBHL would be suspended from 8 September “on account of non-compliance with financial results and non- payment of fine for two consecutive quarters”, NSE said in a communication. These are three months ended 31 December 2016 and 31 March 2017, respectively.
In case the company complies with the requirements before 4 September, then the proposed trading suspension would not be imposed.
According to the bourse, the suspension would continue from 8 September till the firm complies with the requirements.
Similar directions have been issued against another company Net 4 India by the NSE.
In a separate communication, the BSE issued such directions to three other companies along with UBHL and Net 4 India.
The other firms are Sang Froid Labs (India), Oyeeee Media and Spicy Entertainment and Media.
The BSE said Sang Froid Labs (India) has submitted financial results but not paid the applicable fines. With respect to Oyeeee Media, the company has submitted financial results but not paid the applicable fines for late submission of results for half year ended September 2016 and March 2017.
Spicy Entertainment and Media has not complied with Regulation 33 of Sebi (Listing Obligations and Disclosure Requirements) Regulations for half year ended September 2016 and March 2017.
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