Bombay Stock Exchange (BSE) has imposed penalty on Muzali Arts for causing delay in submitting the online applications for seeking listing approvals for 21,50,000 equity shares issued on March 26, 2022 and 21,50,000 equity shares issued on April 15,2022, which were issued on preferential basis upon conversion of warrants in to equity shares of Promoter Group.
There was a delay of 31 days and 29 days respectively in filing the application for Listing Approval. Further time period of non-compliance as informed by BSE.
Muzali Arts is currently engaged in the business of Import, Export and investing in shares, properties, bonds and other securities and financing industrial enterprises in India.
