Karachi Stock Exchange Friday warned 19 listed companies of being de-listed if they failed to induct their ordinary shares in the Central Depositary System (CDS) of the Central Depositary Company (CDC). The firms facing the KSE action under Listing Regulation No 30(2)(b)(C) include Sardar Chemical Industries, Climax Engineering, Shakarganj Foods, Data Agro, Khairpur Sugar Mills, Gauhar Engineering, Fatima Enterprises, Fateh Industries, Fateh Sports Wear, Globe Textile Mills, Hafiz Textile Mills, Ishtiaq Textile Mills, Khyber Textile Mills, Noor Silk Mills, Suhail Jute Mills, Hallmark Insurance Company, Unicap Modaraba, Ansari Sugar Mills and Sakrand Sugar Mills. The said regulation provides for punitive measures against the defaulting company that include the suspension of trading in their shares, the issue of compulsory buy-back directions to the majority shareholders and delisting of the defiant firm through a notice in writing by the exchange. The defaulting firms have been given a 90-day period ending on March 21 this year for ensuring compliance.Standard templates for STRs and CTRs are part of AML Regulations 2008, issued under AML Ordinance 2007 and protected under AML Act, 2010.
