Trading in securities of these companies would be suspended from Wednesday January 7, 2015.
Among these companies are Alang Industrial Gases, Anukaran Commercial Enterprises, Cupid Trades & Finance, Effingo Textile & Trading and Shantanu Sheorey Aquakult.
"Trading members are hereby informed that pursuant to directions received from Sebi, as a surveillance measure trading in the securities of these companies (22) will be suspended with effect from Wednesday January 7, 2015 until further notice," the BSE said in a circular.
However, the exchange has not elaborated on the reason for suspension.
Separately, BSE and NSE have barred two individuals from trading on their platform for a period of one year.
These individuals are Vipul Gandhi and Pratik Gandhi.
"Trading members are hereby informed that pursuant to directions received from Sebi, as a surveillance measure UCC of these clients (Gandhis) will be disabled from trading with immediate effect for a period of one year i.e. till December 31, 2015," the exchanges said in a similar-worded circulars.
All entities need Unique Client Codes or UCC to trade on a stock exchange platform.