Karachi: The Pakistan Stock Exchange (PSX) has flagged Bela Automotives Limited and Dewan Sugar Mills Limited for continued regulatory non-compliance, positioning them for potential further sanctions. These companies, already listed in the Defaulters' Segment, which is due to be renamed as the Non-Compliant or Winding-Up Segment, have failed to address breaches of PSX Regulation 5.11.1.(d) and have not paid the penalties imposed under PSX Regulation 5.21.1. within the specified deadlines.

Bela Automotives Limited, with the stock symbol BELA, has suspended commercial production and business operations in its principal line of business for over a year. Additionally, its statutory auditor has issued an adverse opinion in the company's audit report. Dewan Sugar Mills Limited, trading under the symbol DWSM, has similarly received an adverse opinion from its auditor. These audit findings have contributed to the companies' placement in the Defaulters' Segment.

According to information available from the Pakistan Stock Exchange (PSX), the companies are required to correct these non-compliances specifically concerning PSX Regulation 5.11.1.(d) by November 11, 2024. Failure to meet these compliance requirements could trigger further actions under PSX Regulation 5.11.3., including the issuance of a Risk Warning Alert.

Should Bela Automotives and Dewan Sugar Mills address the listed non-compliances within the 90-day deadline, they will remain in the Defaulters' Segment until all regulatory issues are resolved.