Non-compliance with listing obligations triggers fines, trading suspension and freezing of promoter shareholding under prescribed SOP. Non-compliance with specified periodic disclosure obligations under the Listing Regulations attracts a structured enforcement regime: recognized stock exchanges must impose a uniform fine schedule as first resort, publish names of non compliant entities, and where defaults are successive move scrips to a segregated trading category and suspend trading following notice procedures. Exchanges shall instruct depositories to freeze promoter and promoter group shareholding on continued default, permit phased limited trading on a trade for trade basis during suspension, and follow prescribed revocation and unfreezing timelines upon compliance and fine payment.