BSE ,in its circular dated June 29, had decided to suspend trading in the equity shares of Atlas Copco for a period of three days between July 6 and July 8 on grounds that the company had failed to comply with clause 20 (b) of the listing agreement with the exchange.

According to this clause, a corporate body listed with the exchange is expected to "immediately" release the performance figures to the exchange after the board meeting.But, Atlas Copco which is listed on the BSE's specified counter failed to do so.

However, according to RC Mathur, the executive director of BSE, the reasons forwarded by the company to explain the lapse was quite convincing and has in no way caused any harm to either the market or the investors.

``We found the explanation given to the show cause notice satisfactory. Since the formalities of the meeting was completed by 7 pm and the company got back to us immediatelythe next day, there was no damage caused on account of this delay. Hence, we have decided to revoke the suspension," explained Mathur.

It is learnt that the top officials of Atlas Copco after replying to the notice also met BSE top brass on July 2. It should be recalled that the board of directors of the Pune-based Atlas Copco had met in Mumbai on June 23 to discuss its annual accounts and a few other issues.