Stock exchanges to suspend trading in KFA shares from next month

Zee Media Bureau

Stock exchanges will suspend trading in shares of Kingfisher and another group firm UB Engineering from next month.

Promoter's shares of both these companies have also been frozen.

Leading bourses BSE and NSE had taken action against Vijay Mallya-led UB group firms Kingfisher Airlines and UB Engineering in September for non-compliance to timely reporting of financial results for two consecutive quarters.

The exchanges had shifted these companies to restricted trade category or 'Z' segment.

Under 'Z' segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

With agency inputs