NSE has attributed the suspension to “non-compliance with provisions of listing agreement which inter-alia includes non submission of financial results for the period ended 31 December 2012”
The National Stock Exchange (NSE) on Thursday said it will suspend trading in securities of KS Oils and Abhishek Corporation for their failure to comply with provisions of listing agreement.
Trading in these securities would be suspended with effect from 21st June, this year.
“Trading in the securities (KS Oils and Abhishek Corporation) will be suspended from trading with effect from 21 June 2013 (i.e. Closing hours of trading on 20 June 2013),” the exchange said in a circular.
NSE has attributed the suspension to “non-compliance with provisions of listing agreement which inter-alia includes non submission of financial results for the period ended 31 December 2012.”
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Prima-facie information received from Malaysia indicates that Foreign Direct Investment norms were allegedly violated
Information received from Malaysia in connection with the Central Bureau of Investigation’s (CBI) probe in the Aircel-Maxis deal prima facie indicates that foreign exchange rules were allegedly violated.
The CBI has received response from Malaysia regarding its judicial requests in connection with its probe in the deal.
However, CBI sources said the agency needs clarity on some points which might be referred back to the Malaysian authorities for detailed responses after which it might finalise its charge sheet in the matter.
The sources said the prima-facie information received from Malaysia indicates that Foreign Direct Investment (FDI) norms were allegedly violated.
The agency is planning to file a charge-sheet in the case and the response from the Malaysia would help it in consolidating its probe so far.
CBI has registered the case in 2011 against Dayanidhi and Kalanidhi Maran, executives of Maxis Ralph Marshall and T Anandkrishnan besides three companies for alleged graft.
CBI claimed quid-pro-quo on part of the then telecom minister Dayanidhi Maran has been established during the probe. It has also been proved during the CBI probe that there is direct evidence that files of former Aircel chief Sivasankaran were deliberately delayed, sources said.
It was alleged by Sivasankaran that Maran as the then telecom minister favoured the Maxis group in the takeover of his company and in return investments were made by the company through Astro Network in Sun TV owned by the Maran family.
The allegations have been denied by Marans.