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NSE penalises Jet, IL&FS, Adanis for breach of listing norms
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SME Times News Bureau | 15 May, 2019
The National Stock Exchange (NSE) on Wednesday imposed fines and issued
notices to 250 companies for not adhering to the Listing Obligations and
Disclosure Requirements (LODR).
Among the companies penalised,
were the grounded Jet Airways, subsidiary companies of the crisi-riddenn
IL&FS and Adani Ports and Special Economic Zone (APSEZ, InterGlobe
Aviation Ltd, the parent company of the largest airlines by market
share, IndiGo, and several state owned entities.
"The National
Stock Exchange (NSE) after monitoring the compliance of listing
regulations for all its listed entities imposed fines and issued notices
to non-compliant companies for the quarter ended March 31, 2019," NSE
said in a statement.
The NSE cited a market regulator Securities
and Exchange Board of India (Sebi) circular in this regard, which says
that gives it the power to "levy per day fines" and "freeze the holdings
of the promoter and promoter group" if non-compliant listed entities
fail to comply with the requirements of listing regulations and/or pay
the fine levied within the stipulated period.
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