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BSE, NSE to suspend trading in United Breweries

Leading bourses BSE and NSE will suspend trading in the shares of United Breweries (Holdings) Ltd from 8 September while the entire promoter shareholding has been frozen with immediate effect.
Liquor baron Vijay Mallya is a promoter of UBHL.

Trading in UBHL would be suspended from 8 September “on account of non-compliance with financial results and nonpayment of fine for two consecutive quarters”, NSE said in a communication. These are three months ended 31 December 2016 and 31 March 2017, respectively.

In case the company complies with the requirements before 4 September, then the proposed trading suspension would not be imposed.

According to the bourse, the suspension would continue from 8 September till the firm complies with the requirements.

Similar directions have been issued against another company Net 4 India by the NSE.
In a separate communication, the BSE issued such directions to three other companies along with UBHL and Net 4 India.

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