Pakistan Stock Exchange has suspended trading in the shares of nine companies for breaching regulations.
The main bourse said that trading in the shares of the companies shall remain suspended until such time the cause(s) of suspension have been rectified or another period of 60 days effective from February 04, 2025.
The decision has been taken in exercise of the powers vested in the Exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015 and clause 5.11 of the PSX Regulations.
| No. | Name of Company | Default(s) of PSX Regulations | Reason(s) of Suspension |
| 1 | M/s Regal Ceramics Limited | 5.11.1.(b)(c)(d)(e) 5.11.2.(b)(c) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, non-payment of dues of the Exchange, non-induction of its ordinary shares into CDS, Winding-up petition has been filed by SECP and Appointment of official liquidator.
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| 2 | M/s. Azmat Textile Mills Limited | 5.11.1.(b)(c)(d)(e) 5.11.2.(b) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, non-payment of dues of the Exchange, non-induction of its ordinary shares into CDS and Appointment of official liquidator.
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| 3 | M/s. Kaiser Arts & Krafts Limited | 5.11.1.(b)(c)(d)(e) 5.11.2.(b) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, non-payment of dues of the Exchange, non-induction of its ordinary shares into CDS and Appointment of official liquidator.
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| 4 | M/s. Pakistan Industrial & Commercial Leasing Ltd. | 5.11.1.(b)(c)(d)(e) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, non-payment of dues of the Exchange and non-induction of its ordinary shares into CDS.
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| 5 | M/s. Dadabhoy Sack Limited | 5.11.1.(a)(d)(e) | Suspension of commercial production in principle line of business, Non-payment of dues of the Exchange, non-induction of its ordinary shares into CDS.
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| 6 | M/s. Nina Industries Limited | 5.11.1.(b)(c)(d)(e) 5.11.2.(a) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, non-payment of dues of the Exchange, non-induction of its ordinary shares into CDS and issuance of order by SECP for filling of Winding-up petition.
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| 7 | M/s. Investec Mutual Fund Limited | 5.11.1.(b)(c)(d)(e) 5.11.2.(b) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, Non-payment of dues of the Exchange, non-induction of its ordinary shares into CDS and winding-up petition has been filed by SECP.
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| 8 | M/s. Business & Industrial Insurance Company Limited | 5.11.1.(b)(c)(d) and 5.11.2.(b) | Failed to hold the Annual General Meetings, failed to submit its Annual audited accounts, nonpayment of dues of the Exchange and winding-up proceedings have been initiated by SECP, it has been decided that trading in the shares of the Company shall remain suspended until such time the causes of suspension have been rectified or another period of 60 days effective from February 05, 2025. |
| 9 | M/s. Salman Noman Enterprises Limited | 5.11.1(a), (d), (g), and 5.11.2. (b) | It has suspended commercial production in its principle line of business for a continuous period of one year, failed to pay dues of PSX, its statutory auditor has issued Disclaimer of opinion its audit report and winding-up petition has been filed by SECP against the company in Court, it has been decided that trading in the shares of the Company shall remain suspended until such time the causes of suspension have been rectified or another period of 60 days effective from February 04, 2025. |