Wholesale onion prices this month are ruling 25% to 30% higher than in January. Prices of pulses and wholesale edible oil, too, have increased, helped by government measures to boost farmers’ income such as import restrictions and procurement at minimum support prices. Prices of masur (lentil) and urad have increased by 10% over January, while tur prices have jumped 20% during the same period. Wholesale edible oil prices have increased 30% to 60% for different oils year on year this year .
Category: MARKETS
Anti – Dumping duty extended on melamine and vitrified tile imports from China
The government has extended anti-dumping duty on melamine originating in or exported from China, up to March 31, 2021, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification Thursday.
The designated authority has requested for further extension of the anti dumping duty on the subject goods originating in or imported from the subject country,” the Board said in a notification issued Thursday, extending the duty by a month from the earlier deadline of February 28, 2021.
Melamine is used for making melamine formaldehyde, which in turn is used in producing downstream products. Melamine formaldehyde resin used for laminates offer good hardness, resistance to scratch, stain, water and heat.In a separate notification, the Board has extended anti-dumping duty on imports of glazed or unglazed porcelain or vitrified tiles in polished or unpolished finish with less than 3% water absorption, from China, till June 28, 2021.
SEBI asks NSE to carry out root cause analysis of ‘trading halt’
Market regulator, SEBI has advised National Stock Exchange to carry out a detailed root cause analysis of the trading halt witnessed at NSE on Wednesday and also to explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest.
It was informed by NSE that trading was halted at 11.40 am today due to ‘issues with the links with telecom service providers’. SEBI was in constant touch with NSE officials and continued to monitor the situation closely. NSE was also advised to keep the market participants informed with the evolving developments.
The ‘trading halt’ continued till 3.30 pm. In view of the exceptional situation arising out of the ‘trading halt’, it was decided to extend the trading hours from 3.30 pm to 5.00 pm at NSE, BSE and MSEI.
Consequences for non-payment of outstanding Annual Listing Fees for FY 2020-21
Consequences for non-payment of outstanding Annual Listing Fees for FY 2020-21
Listed Companies – Be Alert !!!!!
NSE and BSE both vide Circular Ref No: NSE/CML/2020/53 and notice no. 20201106-39 dated 06.11.2020, respectively has issued circular stating Action(s) to be initiated against listed companies for non-payment of outstanding Annual Listing Fees (“ALF”) for Financial Year 2020-21.
This Circular has been issued to:
The Company Secretary / Compliance Officer
(To all Companies who have not paid Annual Listing Fees)
The following action shall be taken if a listed company (being Defaulted Company) fail to pay the outstanding ALF (including the listing fee for Financial Year 2020-21) on or before November 20, 2020, in the manner mentioned below:
Action w.e.f. November 23, 2020:
| NSE | BSE |
| The name of the defaulting companies shall be displayed on the Exchange website. | The names of the defaulting companies shall be displayed on the website of BSE Limited on a separate page to highlight the Companies’ failure to pay the ALF. |
| On the company’s individual get quote page on the Exchange website, a message shall be displayed saying, “Company has not paid Annual Listing Fees and is in violation ofSEBI Regulations & Exchange Requirements” | On the defaulting companies’ individual stock reach page on the website of the Exchange, a message shall be displayed stating that, “Company has not paid Annual Listing Fees and is in violation of SEBI Regulations & Exchange Requirements.” |
| On the submission portal, whenever company logs in for submitting disclosures, a similar message would be displayed. | A similar message will also be displayed as a running ticker on the electronic portal of the Exchange, whenever the defaulting companies will log in for submitting disclosures. |
| The equity shares of the company shall be moved from Normal Rolling Segment (Series: EQ) to Trade to Trade Segment (Series: BE). A notice to this effect will also be issued to all market participants. | The equity shares of the defaulting companies shall be moved from Normal Trading to Trade to Trade segment (i.e. gross settlement) for which a 7 days’ notice will also be issued to all the market participants. |
Note:
- It may be noted that the aforesaid action(s) are initial in nature and same does not preclude the Exchange from taking further stringent action(s) against the defaulting companies as notified by the Exchange from time to time.
- Above action would also apply to Small and Medium Enterprises (SME) companies listed on the Exchange who have defaulted in paying ALF for Financial Year 2020- 21
The measures listed above, would not apply to the following (exclusions):
- Public Sector Undertaking (PSU) companies
- Companies who have been admitted by Hon’ble National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code.
- Companies that have only Debt/Mutual Funds listed on the Exchange.
- For computation of the total outstanding amount ALF, tax deducted at source (TDS) would be excluded.
- In case the company is commonly listed i.e. on more than one Stock Exchange, actions such as transfer to Trade to Trade segment and reversal of these actions shall done in coordination by the Exchanges where the company is listed.
Links of the Circulars:
For NSE: https://static.nseindia.com//s3fs-public/inline-files/NSE_Circular_06112020_0.pdf
BSE:https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20201106-39
Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.