Karachi: Bela Automotives Limited has been issued a compliance deadline of November 11, 2024, to rectify its non-compliance with PSX Regulation 5.11.1.(d), which pertains to the failure to pay a penalty imposed by the Pakistan Stock Exchange (PSX). This follows PSX Notice No. PSX/N-791, dated August 13, 2024, highlighting the company’s non-compliance.

According to information available from the Pakistan Stock Exchange (PSX), Bela Automotives must address this non-compliance by the stated deadline through payment of the outstanding dues. If the company fails to rectify this issue, the PSX may take further action under Regulation 5.11.3.(d), which includes the issuance of a Risk Warning Alert against the company.

The notice also indicated that if Bela Automotives resolves this non-compliance, the company will still remain listed in the "Defaulters' Segment." This segment, soon to be renamed as the "Non-Compliant Segment" or "Winding-Up Segment," also includes companies with non-compliances related to other provisions, such as suspension of business operations for a continuous period exceeding one year or issuance of an adverse opinion in audit reports by statutory auditors.