Karachi: Bela Automotives Limited (BELA) has settled its outstanding dues with the Pakistan Stock Exchange (PSX), thus rectifying its non-compliance with Clause 5.11.1.(d) of the PSX Regulations. This development follows PSX Notice No. PSX/N-1089 issued on November 11, 2024, wherein BELA was issued a Risk Warning Alert (RWA) and given an additional 90 days to clear the penalty imposed by the Exchange.

According to information available from the Pakistan Stock Exchange (PSX), BELA's compliance with the payment of dues means the non-compliance of Clause 5.11.1.(d) has been officially resolved. This change has been reflected in the Daily Quotations of the Exchange, providing a relief to stakeholders who were previously concerned about the company's financial obligations to the PSX.

Despite settling its dues, BELA continues to face challenges. The company has been unable to resume commercial production or business operations in its principal line of business. Additionally, the statutory auditor issued an adverse opinion in BELA's audit report, which has led to its continued listing under the Non-Compliant Segment of the PSX. This status is due to ongoing non-compliance with Clauses 5.11.1.(a) and (g) of the PSX Regulations.

The market's designated category for BELA remains unchanged as the company works towards addressing these compliance issues. The ongoing suspension of its business operations and the adverse auditor opinion represent significant hurdles that the company must overcome to fully comply with the PSX regulations. Stakeholders and investors continue to monitor the situation closely, awaiting further actions from BELA to rectify these remaining compliance matters.