Key Event Details
The company received an email from BSE Limited dated 27th May, 2026 with reference number SOP-Review Letter regarding non-compliance under Regulation 17 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The non-compliance pertains to delay in appointment of a Woman Director on the Board of Directors of the Company.
Financial Penalty Imposed
BSE has imposed a fine of ₹1,45,000 (Rupees One Lakh Forty Five Thousand Only) excluding GST on the company for the quarter ended 31st March, 2026. The total amount due includes GST at 18% on the fine amount.
Payment Deadline
The due date for payment is within 15 days from the date of the email, which corresponds to 10th June, 2026.
Reason for Non-Compliance
The delay in appointment of Woman Director was attributed to the time involved in identification and finalization of a suitable candidate for the position. The company has subsequently made the appointment and complied with the applicable provisions.
Financial and Operational Impact
The company states the impact on financial, operational or other activities is nil except to the extent of the fine imposed.
Company Representative
The disclosure is signed by Dipak Suresh Kala, Company Secretary of AKAR AUTO INDUSTRIES LIMITED.