The National Stock Exchange (NSE) on Wednesday penalised more than 250 companies for non-compliance with several listing regulations for the quarter ended March 31, 2019. The fines were imposed on the companies after monitoring compliance of the SEBI listing regulations of all its listed entities, according to NSE data. The fines have been slapped in the range of Rs 1,000 to Rs 4.5 lakh. A little over Rs 8.84 crore has been imposed in total penalty on the non-compliant companies, according to NSE data. Adani Ports, Jet Airways, Indraprastha Gas, Bharat Petroleum, InterGlobe Aviation, Jindal Steel, Indian Oil, Hindustan Petroleum, and others are among the 31 companies that have been fined Rs 4.5 lakh by the NSE.
The trading in securities of the companies can be shifted to specified category by the exchange wherein trades shall take place on Trade for Trade basis and subsequently suspend the trading of companies as per Annexure II of the SEBI circular if the non-compliance continues for two quarters in a row, the statement also said.
Meanwhile, last month, SEBI had found NSE guilty of lapses in the algorithmic trade case. The markets regulator had asked the NSE to deposit nearly Rs 1,000 crore in an investor fund and barred it from accessing capital markets for six months. It had also been penalised two of its former CEOs for lapses in its algorithmic trading systems by clawing back a chunk of their salaries. In its order, SEBI had directed the exchange to disgorge” its profits from co-location amounting to Rs 624.89 crore at 12 per cent interest to the Investor Protection and Education Fund (IPEF). The order has now pushed back the date of the NSE IPO.