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    <description>Suspension of trading did not terminate listing status, so the listed entity remained bound by the exchange regulations, listing agreement and applicable SEBI framework to pay annual listing fees while suspension continued. The same regulatory and contractual framework also supported levy of a reinstatement fee as a condition for revocation of suspension. The challenge failed because the obligation attached to continued listing, not to active trading, and the company had undertaken to pay the prescribed fees for continued listing and re-admission to trading.</description>
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